I have no expectation that any information on a cloud server is actually secure. Just the concept behind the cloud makes me suspect it's security.
We use a cloud based system at work, all the machines connect to a virtual machine in the back, and when that machine goes on the fritz, which is does about once a month, we are completely out of business. There supposedly is a backup, but to engage that backup requires a complete shutdown of the entire network, and an activation of that back up, before the other machines are brought online. Given the way our company has "secured" our computers (we can't even do simple maintenance like a scandisk or a defragmentation of the hard drives with out the proper access credentials), its actually a wonder we're still operating. Many times its actually easier to give the primary computer a good, swift, kick and hope that it starts working correctly again, than to activate the backup.