Will this also be embedded sometimes?
Having a site to share templates and such is a nice idea, but you'll really start making a difference once users can access the online repository right from within the application. Its one of the features which immediately managed to catch my attention when I moved to MS Office 2010.
Its also something I always failed to understand; Sun was living their motto "the network is the computer" yet applications like OpenOffice never showed any signs of it, whereas the direct competition graciously picked up on the idea and expanded it quite dramatically.
I'm also not too sure if the "fanatical" (maybe a bit too harshly worded...) "anti-commercial take" is a good idea.
One of the things which I really liked about the online Word repository was having access to templates for official documents which were developed and shared by companies. A lawyer firm sharing some of their ideas for official documents like complaint forms, some consultancy firms sharing templates for hour sheets. All from a commercial perspective (lets not kid ourselves; of course they hope you'll remember their company name) but still all free of charge.
Still; I really applaud this development, it sure is a good step in the right direction!