Can you bulk download from the "my assets" part of the cloud server? Also, can you open files in Photoshop or Bridge from the "my assets" portion of the cloud? Or do you need to download the files to work on them?
Currently there is no bulk download. The files cannot be worked on directly from the cloud.
You can use the file syncing that is part of the Creative Cloud desktop app. You can then work on files on your local machine and all changes will be synced up to the cloud. This is also a way to bulk download your files by syncing them down locally, especially if you work on a second machine.
Syncing to my computer uses up too much of my hard drive space. There is no option to select which folders to sync as far as I can tell. My team is made up of a dozen people who share files through CC. It's not my desire to sync them all to my hard drive, just choose the ones important to me. Really a pain Adobe!