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Re:Dropbox Founder on New Features and Global Expansion by sreitshamer on Monday January 24, 2011 @07:18PM (#2137388)
From what I've been told, Office docs are made up of objects accessible via an API. So theoretically one could build a version control tool that works effectively for Office docs.
Re:Dropbox Founder on New Features and Global Expansion by Groxx on Monday January 24, 2011 @08:00PM (#2137498)
Theoretically.

There are .NET interop assemblies[1], for working with Office documents, and they require Office to be installed to work. Outside of that, you're stuck rolling your own Office-document-parser.

There is a built-in "track changes" mechanism, though I don't know if all Office types handle it. Word does, at least. Though that's pretty basic.

[1]: http://msdn.microsoft.com/en-us/vsto/dd183191.aspx