It doesn't really use any parts of Wave's collab stack. We implemented our own variant on OT that optimizes for viewport rendered editing of code (versus structured XML like wave did). So it is more performant for our use cases. You can open pretty massive documents and collaborate without any perf issues. We only really use the Keyboard signal event stuff from Wave since it is a pretty great library :).
HTML and CSS have more aggressive custom auto-completers which work really well out of the box. And as soon as I make our chrome debugging stuff work, you will get things like automatic CSS reloading in your running web page as you type.
I plan on (as a hobbie effort) trying to make lexical completions work for all languages that collide has syntax highlighting support for, in a way that works about as well as sublime's completions do. But that is going to be a weekend effort :).
The real rocket sauce will have to be when we connect our affordances for sending real code connection graphs to the client. That is, beefy server-side analysis generating data structures that the client can use for proper completions, error reporting, and go-to-definition and what not.
But note that collide is a hobby project for us at this point. So when we get around to these issues is uncertain.
Like +Scott Blum
said, the parts we opened up are kinda rough at the moment. It is kinda like the wave open sourcing in that it is more of a tech/reference implementation. Not a proper product or service. Wave was a pretty massive project with lots of infrastructure. What they open sourced was a reference shell client (not the full client), an example server, and some libraries.+Jason Parekh