Other formatting, such as bolded or italicized text remains, too. You also lose some graphics (we noticed several graphs were MIA) and some highlights are inaccurate. If there's a missing element, the Word web app inserts a small symbol to represent it.
The Office web apps behave very differently from Google Docs, in which all writing and editing is done inside the browser with collaboration occurring in real time. Microsoft designed Office 2010, so most of the fancy formatting work is done inside the native app. The idea is you and your cohorts can apply light edits using the web apps in the browser.
Collaboration doesn't occur in real time, either. Instead, you mark a document as ready for editing, or you restrict it to avoid interruptions. That's basically an efficient way to take turns co-authoring a document online.
Both Microsoft Word 2010 and Windows Live are crammed with too many options, and getting the online-sharing option started took more steps than an AA meeting. Because of the lack of paragraph indentations, our preferred workflow for co-authoring a document is still to compose it in real time using Google Docs, then to format it inside Microsoft Word.
PowerPoint Online
The PowerPoint web app is actually pretty good at retaining fidelity of a presentation created with native PowerPoint. Graphics, formatting and various fonts remain the same when editing inside the browser.
The major element missing from the web version of PowerPoint is the ability to add multimedia elements, like audio or video files, inside a presentation. Still, most would do the majority of their presentation creation inside the native PowerPoint app, and the ability to edit slides in a browser should be very useful for road warriors.
The coolest online-sharing feature for PowerPoint — real-time broadcasting — lives inside the native app, not the browser version. In PowerPoint 2010, you can share your slideshow online just by sending someone a URL. And if there's no projector in the room you can just send around a URL and everybody can view the presentation live on their laptop or smartphone
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