Microsoft introduced a new set of features in Office Live. 

For those who don’t know what Office Live is: Office Live is like a lite cloud version of Share Point. It enables users to store, organize and share documents.

There are four new big features:

• Support for folders. Now the workspaces can contain folders in order to help us organize documents. I am really excited about this feature because I have also requested in through the feedback form. I am using Office Live a lot and I needed folders and subfolders.
• Cut/Copy/Paste. Now Office Live provides support for cutting/copying documents and pasting them in another folder/workspace.
• Increased storage space. The storage space increased to 5GB. That’s a looot. If you don’t think so just try to see how many word documents can you store in 5GB :)
• Eight new languages. The new languages also include Romanian (personally I prefer English but there are other who prefer their native language. The new languages are: Hungarian, Romanian, Lithuanian, Serbian Latin, Ukrainian, Slovak, Latvian and Slovenian.