'Existing projects' would be any project still in Octopus. It would compare projects found in the deployment journal on the Tentacle and determine if that project is still in Octopus. If it is found it would leave that entry and those files alone, if the project was not found it would remove the entry and corresponding files.
In 3.0 if you click on the ? in the right hand corner it shows the version from any screen you are on. It was felt this would give you instant notice of your version, but not take up the screen space like the footer did.
Personally my suggestion would be that we have an option under 'Create Project' with a check box to 'clone a project' and if chosen, it gives you a drop down of all active projects to choose to clone from.
Open for discussion!!