If no new version is available, you will see the following window instead:
If you select the "Check Automatically" option, then each time you start Behold, it will go to Behold's website and find out what the is the latest version available. If a new version is available, then Behold will add "New version available" onto the menu bar to the right of "Help" as shown here:
You can then click on the "New version available" menu item to bring up the Web Update Window and start the update process.
The "New version available" menu item will also appear after manually checking for a new version, finding there is one, but not doing the update.
Note: The "Check Automatically" option will only go to Behold's site to download a single one-line file that it uses to compare with your version. Behold does not do anything else and does not track your accesses in any way.
Also, Behold will not perform this check unless you are already connected to the Internet. Behold will never connect you to the Internet itself. When you do anything in Behold that requires Internet access when you are not connected, it will ask you first if you want to connect with the following confirmation box: