Differences between Managed and Unmanaged deployments in JBOSS AP7

unmanaged if this argument is not specified, the deployment content
                    will be copied (i.e. uploaded) to the server's deployment
                    repository before it is deployed. If the argument is
                    present, the deployment content will remain at and be
                    deployed directly from its original location specified with
                    the file_path.
                    NOTE: exploded deployments are supported only as unmanaged.

Managed deployments are uploaded to the server. In case of unmanaged deployments there is only a 'link' to the original file.
But I would handle that with care in production.