Official Google Blog: Went Walkabout. Brought back Google Wave.
This is an interesting development on collaboration. As I understand, Google Wave is a realtime collaborative (as in online) tool that mixes collaborative document management (ie, creating, editing, sharing and publishing) and communication. It is like (to my limited understanding) having a whole page of your instant messenger where you also display your online documents, videos, images and other digital content.
I am very interested in how this can be applied to education. Expect me to blog about this after I use it. If you are interested, try going to the website at http://wave.google.com.