In excel they're using some pattern recognition so when you start filling down a column they just fill out the rest instead of waiting for you to use the fill down feature, I thought that was just plain neat.

They're improving collaboration in all products, ie bringing it on par with gdocs.

Something geospatial, dont recall exactly what, maybe it was to do with SharePoint or colo.

The most interesting was they're letting go of forcing ms languages for plugins and allowing you to write and import widgets/plugins as html/js so all those nasty vb scripts of old are going to get some much needed love from all the web devs out there.

I could be wrong on a few of these just what I recall hearing about, happy to be corrected if I misunderstood any of what I was told. Mostly it just sounded like, as a company, they're identifying what their core products are and innovating on them. As in strategically, they're getting their shit together.