How can the files be in the folder if nothing is exported?

The folder is a virtual drive. Its files look like ordinary video files to Windows and to your editor, but their content is not stored on a disk. When your editor reads a part of a file, Two Left Wheels 360 stitches the frame it belongs to from the original camera recording and hands it over, as if it had been read from a disk.

That is why the files show a very large size although the full-resolution video takes no disk space, and why they are there only while Two Left Wheels 360 is running. See How Two Left Wheels 360 works.