The "Lite" version of Code Co-op is now available. It includes all version control functionality of Code Co-op 5.0 (which will call, "Pro") except for not supporting LAN--no hub/satellite configurations. It is priced considerably lower than the version Pro, at $149 per seat instead of $199.
The Lite version only supports e-mail peer configurations and therefore is easier to configure and use (simpler join and invite dialogs). In most cases that's the best and the simplest option. Each machine taking part in collaboration communicates with other machines using e-mail. Co-op Lite supports MAPI access to the email client, or direct SMTP/POP3 access to an e-mail server, including Gmail.
In the future, we are planning to add some specific functionality to Co-op Pro that will not be available in Co-op Lite.
Co-op Lite is able to interoperate (as an e-mail peer) with Co-op Pro.