If I move the dropbox location on one of the computers (not using default location) and make an arrangement and point to files on the new dropbox location, what will happen when I open the files on my laptop that uses default dropbox location?
If you're referring to including links to a file within other files, then it likely won't work. When including linking to external files within another file, most programs use the full path to that file. If the path is not the same on all of your computers, the program likely won't be able to find the linked file.
I'm not 100% certain how that works on a Mac, but it's definitely a no-go on Windows.
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