QUOTE(Phil P @ March 27 2008, 09:47 AM)

Oh yeah, always read the fine print
8. Use of Your Content.
1. Adobe does not claim ownership of Your Content. However, with respect to Your Content that you submit or make available for inclusion on publicly accessible areas of the Services, you grant Adobe a worldwide, royalty-free, nonexclusive, perpetual, irrevocable, and fully sublicensable license to use, distribute, derive revenue or other remuneration from, reproduce, modify, adapt, publish, translate, publicly perform and publicly display such Content (in whole or in part) and to incorporate such Content into other Materials or works in any format or medium now known or later developed.
Basically they can make money off of your stuff, so be careful when posting stuff that you use commercially.
Definitely not a practical thing for professional use but for everyday family, etc. it looks pretty nice. Kinda slow when I used it but still neat-O!
Apparnetly.. google's picasa has the same thing:
QUOTE
Your Rights
Google claims no ownership or control over any Content submitted, posted or displayed by you on or through Picasa Web Albums. You or a third party licensor, as appropriate, retain all patent, trademark and copyright to any Content you submit, post or display on or through Picasa Web Albums and you are responsible for protecting those rights, as appropriate. By submitting, posting or displaying Content on or through Picasa Web Albums, you grant Google a worldwide, non-exclusive, royalty-free license to reproduce, adapt, distribute and publish such Content through Picasa Web Albums, including RSS or other content feeds offered through Picasa Web Albums, and other Google services. In addition, by submitting, posting or displaying Content which is intended to be available to the general public, you grant Google a worldwide, non-exclusive, royalty-free license to reproduce, adapt, distribute and publish such Content for the purpose of displaying, distributing and promoting Google services. Google will discontinue this licensed use within a commercially reasonable period after such Content is removed from Picasa Web Albums. Google reserves the right to refuse to accept, post, display or transmit any Content in its sole discretion.