Where is Auto Save in my Lion (10.7.5)?

I'm looking for an application to keep versions of everything I type for those "stupid moments" when I junk a treasure. I'm currently depending on SpellCatcher's Ghostwriter which is no longer supported. If I upgrade the system, I'll need another way to keep all versions of my typing.

People tell me that there's Auto Save in Lion.

I give up.Where is it? All I see is an empty folder labeled Auto Save in the AppleWorks User Data folder.

Many thanks

--GG