When working with Team Projects, the service scans your work several times per minute for changes and auto-saves them to your computer and the Creative Cloud. These auto-saves are not visible to your collaborators. They only see the changes that you choose to share explicitly. Your auto-save history is not visible in through the UI in this beta version. We hope to improve that in an upcoming release, but your auto-saves will always be private to you and not visible to your collaborators. Visible or not, your auto-save history protects your work in the event of a crash, or even the loss of a drive or entire computer, since it is also backed up to the Creative Cloud.
You can tell that Auto-save is running in the current beta by looking for the asterisk in the title bar next to the name of your Team Project. The asterisk should appear there when you make an edit. When the asterisk disappears, it means that your work was auto-saved successfully to your computer. The asterisk will normally disappear a few seconds after you finish making changes. For complex comps or sequences, it may take a bit longer. If you stop editing and notice that the asterisk is still visible for more than a minute, I suggest quitting Premiere or AE and relaunching, just to be safe.
-Peter