How I Use It
For the most part, I have used Sway as a teacher/instructor to present information. I works well as a presentation tool when you are running short on time...sometimes other tools like Powerpoint can take a long time to put together, but Sway is quick! It is easy to upload content- especially from Office Suite, and will even "suggest" images from Bing to include in your presentation. You can't mess with the formatting all that much- it just makes it look good for you right away. A colleague uses it with students to create book reports and likes the fact that it limits how much you can design/change things...the focus becomes more on the content and not on all the "bells and whistles" like animations that students can get stuck in during creation.
Overall, a good presentation tool that works well on multiple platforms. Be careful when sharing your Sway presentation- you have to make sure you have the permissions set correctly otherwise others won't be able to view. If you are going to use with students, make sure they have an account created ahead of time. I did not find the how-to videos to be super helpful either, so I would demonstrate a couple features first (how to add "cards," bold text, and upload media) before you let kids go. It would be good to have an example presentation to show them as well.