Hi,
First of all, OneDrive is not an Office application, I'm not able to answer questions about it. You can post questions about OneDrive in this forum below:
http://answers.microsoft.com/en-us/onedrive
For OneDrive for Business, for the first question, I haven't got a chance to test it yet, but I believe probably the local data will sync to Office 365 or SharePoint Server 2013, depending on which you use with OneDrive for Business.
As for your second question, you seem to know the versioning:
How does versioning work in a list or library
It should be helpful to restore corrupted/damaged items. To revert to the last version in bulk, we can do little on the OneDrive for Business client, you should ask in the
Office365 forum or
SharePoint Server forum.
Regards,
Melon Chen
TechNet Community Support
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