Quoth the PR:
There are three parts to the service – PicStream which handles pictures, AcerCloud Docs (a Dropbox-alike), and clear.fi Media for media sharing. It allows you, for example, to move a video file from your PC to your phone and then to your tablet. Presumably this has to happen on Acer gear.
The service is not yet available but you can grab more information here and the press release follows.