Deleting things from my Mac

Yes.

Files that are backed up to the drive are in a different location than were the original file is.

Deleting the original does not delete the backup.

You just need to make sure the files are transferred to the external drive before deleting from the original location on the Mac.

For more information on how to use your drive:

http://wdc.custhelp.com/app/answers/detail/a_id/1717