Option "Continuous Availability" on File Share on 2012 R2 "General Use" File Server Cluster

Have a "General Use" Fileserver clustered on two 2012 R2 Cluster Nodes. When creating file shares in the failover cluster manager, I have the option to tick "Continuous Availability" in the settings of the cluster file share.

Haven't found any documentation regarding this setting. All Microsoft documentation about the settings of cluster file shares is 2008 R2 or earlier. Have the following questions:

1. Does this setting on a cluster file share ("General Use" File Server) has any effect when the share is accessed from Windows 7 clients (SMB 2.x only)?
2. Does this setting on a cluster file share ("General Use" File Server) has any effect when the share is accessed from Windows 8.x  clients (SMB 3.x capable)?

Thank you all in advance for any clarification

Franz