In response to question from Swabes I tested out what happens if you change a document in a "SharePoint Lists" folder.  The steps as demo'd in the blogcast are go to the document library in SharePoint and select the "connect to Outlook" option under actions:

this creates the offline folder in Outlook and downloads the documents as offline copies.  If you then, in Outlook, open a document you get something like this:

 (click for full image)

which has an "edit offline" button.  Until you click that, the document is in read only mode.  If you click it, it creates an offline draft copy and when you save it, this pops up:

which if you click update, sends the changes back up.  Then when you next sync the folder, these changes get sent back up to the server.  They show in your Outlook folder copy immediately after you save with a little red up arrow next to it if there are upload changes pending.