This new feature is known as “the Dropbox badge,” where it is introduced to the Dropbox for Business early access program. Project Harmony was initially announced in April earlier this year, where it has been touted to be a layer on top of Microsoft Office that paves the way for folks to work in real time when working with Office files in their Dropbox folders, and that is what is on the plate when it comes to the likes of Word, Excel, and PowerPoint.
In other words, you can check out other folks who happen to view or edit a given file, while notifying you whenever someone new joins in. Apart from that, you will be able to check out whether there is a more recent version of the file available, and the works.