On the Exchange team, it’s always important to us to get feedback from our customers on what we’re doing well and what we could be doing to make the experience better for you. In Exchange 2007, in response to one of the biggest Exchange 2003 OWA feature requests, we introduced WebReady Document Viewing. This let OWA users preview attached Microsoft Office documents and PDFs in a web browser without having to save them to disk or open them in a locally-installed application. We continued to offer this functionality in Exchange 2010, but we received a lot of feedback that text and formatting of Office documents were sometimes not the same as the original document when viewed in the desktop Office client applications.

Read the complete blog at http://blogs.technet.com/b/exchange/archive/2011/10/31/introducing-office-web-app-integration-with-outlook-web-app-in-exchange-online.aspx

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