You and your colleagues can edit the same items at the same time. Every text field syncs live, so nobody has to wait for someone else to finish, and nobody's changes are lost.
What you see
When you start editing a field that a colleague is also editing, their cursor appears in the text as an orange caret, and any text they select is highlighted in the same color. Their edits show up as they type, and yours show up for them. The caret does not carry a name.
How syncing works
A field connects to live sync as soon as you hover over it or a colleague starts editing it. While you are in a field that is still connecting, a small spinner shows in its top-right corner, replaced by a green tick once it is in sync. Changes from all editors are merged automatically, and the item is saved as usual.