These are the distinctions that cause real harm when they are misunderstood — each one is a way someone can send a document believing it is safe when it is not.
Cover and removal modes are different
Cover mode paints an opaque rectangle while the original content remains in the PDF. Remove mode rasterizes the affected page so the covered source content is not carried into the result, but that also removes selectable text, links and form widgets from the page. Use remove mode for sensitive content and verify the exported PDF before sharing; never describe a white cover as redaction.
Permissions are advisory; encryption is not
AES-256 encryption is enforced by mathematics: without the password, the content cannot be read. Printing, copying and modification flags are different — they are requests recorded in the file that a PDF viewer chooses to honour. A viewer that ignores them is not defeating any protection, because there is none to defeat.
A password is only as good as the password
AES-256 does not help if the password is short or guessable. Use at least eight characters, and different open and owner passwords. Encryption strength is not the weak link in practice — password choice is.
Your device is now the security boundary
Because nothing is uploaded, the security of your document is the security of your machine and browser. That is a better boundary than someone else's server for most people, but it does mean a compromised device is a compromised document, and a shared or public computer deserves the same caution any sensitive work would.
Downloads land in your downloads folder
An exported file is an ordinary file on your disk with no special protection. If you exported something sensitive to a shared machine, delete it when you are finished.