This feature has been essential for so many years that I've stopped using Office entirely. Most of my docs are shared and edited among a few collaborators.
I'll reconsider office 1.) when it is free 2.) when it works seamlessly on a Mac.
What I'm saying is that the online version of Office is both free and will run in a browser on your Mac. In my opinion at least, the web-based Office 2013 apps make Google Docs look like a toy - especially if you need to interop with native Office documents.