Texts with iPhone and iCloud
Yes and no. 

For practical purposes, texts aren't really "stored" in iCloud. I say that with two caveats. First, Apple may store them for their own use and second, they may be stored through your iOS device's iCloud backup. 

As such, when you delete a message off of your iOS device, that change doesn't populate to other devices, and it isn't deleted from iCloud until your device backs up itself to iCloud (likely over night). The message will be deleted only from your device unless the backup occurs.