How does Espionage 3 work in practice?

Maybe I just haven't looked in the right place, or maybe I have and didn't understand what I read, but how does Espionage 3's password prompting work in practice. I'm not talking about application encryption or passwords.
I bought Espionage 2 for 1 reason. So that when I first access a protected file or folder, I am prompted for the password to decrypt. Then when I'm done, I select Lock from the menu item, and it gets encrypted again. I could have different passwords for each file or folder, although that was only a nice to have. The application associations made things both simple and complicated. The requirement to password prompt and decrypt was needed regardless of when the file or folder was accessed. Whether through the Finder or another application. Espionage 2 required me to associate the file with a specific application. That was fine by me but not really what I card about.
So, bottom line, I want to encrypt a specific mailbox folder. What I expect to happen is that when I open the Mail app and the Mail app attempts to access that mailbox, I will get prompted for the password. If I enter the password correctly, the mailbox is decrypted and all is well. If I don't enter the password, Mail will do whatever Mail does when it can't access a mailbox. That is how I expect it to work. The same logic applies to opening any encrypted file or folder, whether from the Finder, Mail, Preview, Word, etc. When the app accesses, prompt for the password. Note that this is not an application association because I could access an image file from a variety of apps. This should also work whether I open a file from within an app or double click a file which, once decrypted, opens in its default app.
That's what I expect and why i purchased Espionage. Tell me how close does Espionage 3 come to this scenario and what are the differences.
Thanks
Bob
I bought Espionage 2 for 1 reason. So that when I first access a protected file or folder, I am prompted for the password to decrypt. Then when I'm done, I select Lock from the menu item, and it gets encrypted again. I could have different passwords for each file or folder, although that was only a nice to have. The application associations made things both simple and complicated. The requirement to password prompt and decrypt was needed regardless of when the file or folder was accessed. Whether through the Finder or another application. Espionage 2 required me to associate the file with a specific application. That was fine by me but not really what I card about.
So, bottom line, I want to encrypt a specific mailbox folder. What I expect to happen is that when I open the Mail app and the Mail app attempts to access that mailbox, I will get prompted for the password. If I enter the password correctly, the mailbox is decrypted and all is well. If I don't enter the password, Mail will do whatever Mail does when it can't access a mailbox. That is how I expect it to work. The same logic applies to opening any encrypted file or folder, whether from the Finder, Mail, Preview, Word, etc. When the app accesses, prompt for the password. Note that this is not an application association because I could access an image file from a variety of apps. This should also work whether I open a file from within an app or double click a file which, once decrypted, opens in its default app.
That's what I expect and why i purchased Espionage. Tell me how close does Espionage 3 come to this scenario and what are the differences.
Thanks
Bob