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1. What happens if I have say PS CS5, get Creative Cloud and also PS CS6. Can they exist independently?
Yes they can co-exist. As you point out some customers have had problems. We do work with those customers to resolve the problems.
2. If I am "offline" (no internet accessibility) is it true that in as little as 7 days all of my Cloud licensed applications will be revoked even if my Monthly subscription is up to date?
Per the Creative Cloud FAQ here http://www.adobe.com/products/creativecloud/faq.html
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I have another question.
Will I be able to use my CC licensed products anywhere I go? What if I go to a different country from the one I originally purchased my CC license?
Let's say I purchased my CC license while I was living in country X and now I'm going to live in country Z. Will there be any issue with my licensed products, like not being able to use them?
Thank you
Alex