Microsoft may be down compared to Google in terms of search – some of the most conservative estimates suggest Google’s market share is five times bigger – but the Redmond-based corporation still has little to fear as far as productivity software goes.  Google Docs and Spreadsheets is growing at a gastropod’s pace.

Call it premature, a key indicator, or room for some great developer to still bust this space wide open, but Google is by far the undisputed champ of online collaborative productivity tools since October ’06 — five months ago.

According to Nielsen//NetRatings’ MegaPanel, Google Docs and Spreadsheet users, all 445,762 of them, represent 92 percent of online collaborative productivity tool users.