Hi Paul.
Data Folder is only shown to customers with on premises server, but yes, should be handled with great care. We are working on a wish to display a warning when changing the data folder.
Currently we have a bug with the Backup folder function so it does not list backups from the new backup folder listed in Change Server Data nor does it save backups in folder listed under this function.
The hierarchy is MyStandard > Parameters.txt > SERP
Hope this answers your questions,
Magnus Mork