Shared Workflow

Great the addition of Shared Workflows and would like to know when the shared WF will be updated in existing WF.
When a WF is using a shared WF, will this be part of code during the upload to the server or does it at server level be included when agent is uploading the WF.
I suppose it is when uploading WF to the server but want to be sure. At agent level would be risky because all WF that uses this shared WF, would stop working if there is a bug.

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@hemanshu.rukadikar when this shared workflow would be introduced and any indication how it will be used?