Well Molson I am guessing that you are referring to RSLogix5 programming software for the Allen-Bradley PLC-5 processors. In the future you might want to post a few more specific details.
So, if we are referring to RSLogix5 then here you go:
Online
When you choose this option the RSLogix looks at the processor you are going online to and does a compare of the program in the PLC to the project file on your hard drive. If they match then the software will open the project file on your computer with the live data coming from the PLC.
If the files do not match, then you will most likely upload the processor file from the PLC and merge it with the documentation found in the project file on your computer. This will allow you to see your existing documentation merged with the program in the processor. If you do not wish to merge these files then you can instead create a new project file (on your PC) but you will only get default documentation, which ain't much.
Online Now
This option is similar to creating a new file as described above. It will not bother to check and compare the processor file to your files. Instead it just uploads the program into what amounts to a temporary file. You again will only receive default documentation.
So, if you do not care about the documentation, online now can be a quicker way of getting online with the PLC.
Hope that helps!
OG