Macro Security on Office 365

I have developed an Excel program using vba macros on a desktop. If I provide this workbook to a sophisticated user, he will be able to break through any protection and access the code I have written, then turn around and sell it to others.
Question: Does Excel online via Office 365 prevent such brute force access?
Also: Does a user that I give permission to use the ONLINE workbook actually download a copy of the workbook, or just view and edit the unprotected cells of a workbook that stays online?

I believe while using Office Online, you do not have access to Macros.

Secondly, you can protect your VBA Project and then hand it over to other users..