I respectfully suggest that the library owner should
(1) Be able to set read write options for various users.
(2) Being able to see what changes have been made by whom, is not enough. One should be able to undo them, as well.
At the end of the day, it would be far better to specify how much access an individual has. – With my genealogy tree, I can allow someone to view the tree, to add to the tree or to edit the tree. I grant edit capabilities to very few people! My Endnote library is just as important to me.
I will continue to avoid the new sharing options, apart from occasionally sharing a group thru the Online “manage groups” options, and use our shared network folders (read only) for most collaborators, and thereby granting access to my read/write library to a highly selected few.
We are watching the user forum carefully before committing our Institute to the upgrade.