AutoCAD Inventor :: Project Library Folders - 2014

I don't normally use libraries. I'm just not a big fan of them, so if I'm wrong here about a basic concept it's no surprise. My understanding was that if you add a folder location to a project under the library heading (see image) then everything in it automatically becomes read-only when that project is active.

My intention was to test some of 2014's functionality on products that I have drawn in 2013 without mucking up my other designers who I'm not ready to upgrade, yet. So, I copied some assemblies over to a new folder on my network completely outside of the root folder of the normal working directories. I then assigned that working directory as a library in the new project file I created in 2014 specifically for testing it. I expected this to allow me to open my files without a bunch of unresolved reference problems and not have to worry about accidentally migrating files that I'm not ready to migrate.

So, why did I still manage to migrate a bunch of file that are located in the working directory that's supposed to be write protected?! Now I have actual product files that can't be opened in 2013. Luckily, I can restore these from a back-up, but what did I miss here? Did I not check a certain box somewhere or am I missing the whole concept? I really doubt this critical function of Inventor is somehow bugged in 2014.