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Calibre converts the document in your computer (e.g. a Word document in RTF format) into another document in your computer (e.g. an epub or mobi file, depending on what you choose for the output format).
The document stays in your computer and no one else can see it or access it. It doesn't automagically get sent into bookshops for people to browse and see and buy.
You can then view the converted document in your computer or transfer it to your ereader. Again, neither action will not automagically turn it into a book that other people can browse or buy from bookshops.
So, yes, go ahead and convert it if you want to see how it looks!
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