ADOBE Buzzword – Online Word Processor
Adobe® Buzzword® is a new online word processor, perfect for writing reports, proposals, and anything else you need to access online or work on with others. It looks and behaves like your normal desktop word processor, but it operates inside a web browser on Acrobat.com, so there's no installation required.
Buzzword is part of Acrobat.com. Once you create documents here, you can access them from anywhere, no need to tackle with email attachments.
All you have to do is to create an Adobe.com user account and get started here.
The User Interface is build in Adobe Flash Platform, which is very cool and rich.
Features:
Web-based File Sharing and Storage 
- As your document is online, buzzword can be used to for publishing and collaborating between colleagues and peers for peer-editing, reviewing etc
- Sharing is easy by clicking 'Share' button and provide the email addresses with whom you want to share the document.
- Assigning different roles to the users:
- Co-author - Full writing privileges
- Reviewer - Can add comments to the document
- Reader - Can only read the document
- Multiple user can add comments to the same document while revewing.
- Hide/Show comments
Version History 
- Unlike other online word processors, buzzword makes us all the previous versions of the document available.
- Click the 'History' button to show all versions of the document and can view them.
- Keep track of changes
Create Print Perfect Documents
- Create printable documents online.
- Import any documents of formats .doc, .docx, .pdf, .odt, .txt, .rtf etc
- Export to any document formats like .doc, .docx, .pdf, .odt, .xml, .txt, .rtf etc
SpellCheck
- Buzzword automatically spell checks and shows flags mis-spelled words.
Toolbar
- Toolbar available to deal with fonts, paragraphs, tables, images, lists, comments
- Cool color picker.
Document Organiser
- Shows list of all your documents.
- You can group your documents by Alphabetical order, by Author, by Size etc.
Synchronization
You can synchronize all your documnets to the server to make sure your latest changes are reflected back in the server in order not to lose any changes.
This is how Adobe Buzzword looks:
Trust me, buzzword is awesome in creating and sharing documents online.