Here is the link to the thread where we discussed Player View functionality. I learned a few things about the way the software has been designed.
1) The purchased software, I'll call it the Rich Client, is where the authoring is going to take place. In this form it is also called the GM Client. An internet connection is only required to create a Realm, and when you want to sync information to The Cloud. Once a Realm is created, it is theoretically possible to never connect again, performing all authoring and playing all game sessions using only the existing install and zero internet connectivity. The Player View - commonly displayed on a 2nd monitor - is used to display revealed information to the players.
2) A Rich Client could also join an existing realm, created by another GM using their Rich Client. In this use, however, the Rich Client does not have authoring capabilities, and is simply a viewer of revealed information. This would require internet connectivity to The Cloud to sync, but I don't believe it would be required after that... except to get updates from the GM.
This is all that exists today. In the future, Wolf Lair may release two other clients.
3) A purchasable Rich Client, that is simply a Player Client. This will act like #2 above. I think this version is unlikely.
4) A Web Client, (free?). This will behave similarly to #2 & #3 above, except that it would require a constant connection to The Cloud. This requires only a modern web browser.
DISCLAIMER: This is how I understand it. I could be wrong - it's happened before!