So that I only have Meteor 1.3.3 for current project, without affecting another Meteor built with 220.127.116.11 for example
Meteor will continue to build/run projects at their actual release until you
meteor update that particular project. So you can pick and choose which projects to update to 1.3.3 (or 1.3.4).
So you are saying when
Meteor update in one particular project folder, it doesn’t affect another Meteor build in another meteor project also residing in the same machine?
That is correct Sebastian.
It will, however, download and store that newer version of meteor to use in case you run meteor update on another project later (meaning it will not have to re-download the files). It won’t replace any files globally, it stores all downloaded versions separately.