The Office Live Update 1.1 for Microsoft Office Live Workspace beta makes working with Microsoft Office programs faster and lets you access workspaces from Microsoft Office Word, Excel, and PowerPoint.
The Office Live Update 1.1 installs (1) performance updates to make using Office Live Workspace with Microsoft Office programs faster, (2) the latest Office Live Add-in for Microsoft Office that enables you to access your workspaces directly from Word, Excel, and PowerPoint and (3) the Multiple Document Upload Tool.
The Office Live Add-in adds new menu options in the 2007 Microsoft Office Suite and a toolbar in Microsoft Office XP and Office 2003. You will be able to open documents located in Office Live Workspace directly from Word, Excel, and PowerPoint. You will also be able to save files directly from Word, Excel, and PowerPoint to Office Live Workspace.
The Multiple Document Upload Tool lets you add multiple documents to a workspace at once and even allows users to drag and drop files directly from their desktop.
Source: Office Live Update 1.1