Updates are generally a good thing. They’re supposed to address issues and bugs for users with varied requirements and to ensure its compatibility accross multiple product specifications. However, in this new iteration of Dropbox for the mobile platform, they did some major changes in the way the files are kept.
There is now this ‘favorites’ system which lets you flag your dropbox files with a star and then those will be downloaded and available for offline use. There is also the export feature which has a ‘save to SD card’ choice so you can determine for yourself where to put the downloadable file.
I noticed it primarily because I was using circle launcher and my PNG files were on a ‘Dropbox’ folder where the old version used to put all the files that have been downloaded; when the update happened all of my circle launchers lost their referenced photos so I had to check what happened to the files. It turns out that these have been moved to a lower level folder under the ‘Android’ folder which is esentially like the ‘Program Files’ folder on a Windows PC.
It seems as if Dropbox wants to be used sort of like a file explorer by itself and hid itself quite deep so as not to be tampered with unintentionally.