Microsoft hasn't hit the online community (yet), instead they've released a service for you to share your office docs across the Internet called Office Live Workspace. Many believe that this will allow Microsoft to focus on one version of Office and thus creating better applications, others believe that Microsoft should throw out the desktop applications all together and just focus on creating online office applications.

What Microsoft have released is an online version of Microsoft Sharepoint which allows you to share documents and sync edits. There are some additional services like an online Word editor (however very limited).

The service also includes these features:-

* Activity panel. A new activity panel shows all the activity in a workspace at a glance.
* Notifications. People can now receive e-mail notifications about changes made to their workspaces or documents.
* Direct links. People can now bookmark their workspace or a workspace item via a unique URL in a browser window.
* Multi-file upload. People can now upload several files simultaneously by simply dragging and dropping from their desktop.
* Improved sharing. New sharing functionality includes an easier user interface and auto-completion of e-mail addresses.
Microsoft

Links
* Mashable - Microsoft Office Live Workspace Now Available to Everyone
* Techcrunch - Office Live Workspace Beta Opens To the Public