Syp already covered this, it’s been officially confirmed via Cryptic CMs.

If you look inside your Champions install directory, locate the screenshots folder. If you clicked “save” in the Character Creation, you’ll find a .jpg for that character. That character’s appearance data is also saved within the metadata of that jpeg. Clever huh? Backup those saved characters you have and copy them to your new install when the game releases, then you can “load” your characters back into the game at launch.

This won’t save levels, just the visual appearance from the character creator.

Feel free to try it with Jay here. My friend Lurch sat down at my PC and for some reason his first attempt at a costumed superhero turned out to be Jay Leno:

It’s kind of like a superhero trading card.

To see how well it works, save that image and reload it into your own Champions install. =)