It looks stupid. I can do better file sharing using SkyDrive. Or I can just use Live Mesh to sync and share my files. Office Sounds like a solution to Free Google Doc, but I can't edit online. From the look of it, Office Live is just a collaboration file repository system. Which is rather point less when Facebook makes better event invite and SkyDrive is just way easier and able to share any file.
I don't get the Office Live team. What's the purpose? It seems useless.