Instacoll is an Instant collaborative tool that I tried the other day together with my mIRC friends. With Instacoll only the data is shared while the application is still running on local systems thereby reducing the bandwidth requirement. For example if you want to share a microsoft word document or an excel sheet or want your powerpoint presentation reviewed and corrected by your colleague while you are looking but from a remote location InstaColl is the product you are looking for.
Above all, it’s FREE
While trying we thought it was useful but at the same time its lacking multiuser support. Only two can collaborate at a time. It would have been better if multiuser support is added. I am sure they will add multiuser support in the future. Here is the link for Instacoll