Tim O'Reilly wrote an absolutely glowing review that is sure to start a lot of hype:
This is a REALLY sweet word processor. It's got amazing typography, pagination, resizing and reflowing, all in Flash (and Apollo, for offline use.) Unlike Google Docs, this isn't a lightweight word processor. It may well just be the slickest word processor I've seen anywhere.
They are soliciting stories about where an on-line word processor would make the world a better place. If you have any to share, drop them a message at: info @ virtub.com