See the Video here: Talking about the Office Live Concept
http://www.podtech.net/scobleshow/technology/1707/microsoft-brings-live-collaboration-to-the-office
Learn more about Office Live
Microsoft Office Live Workspace beta is your online place to save, access, and share documents and files. Use it to group related information for work, school, or personal projects. No downloads are required – just sign up and go.
http://workspace.officelive.com/LearnMore