20. The computer-readable medium as recited in claim 14 , wherein the state change is implemented locally on the first computing device asynchronously from the transaction being transmitted to the second computing device.
14. A computer-readable medium bearing computer-executable instructions which, when executed by one or more computer processors, carries out a method of propagating a change affecting an application between computing devices, comprising: establishing a collaboration session between a first and second computing device; in response to the first computing device experiencing a change that affects the application: applying a binding that propagates the change to a data model to implement the change locally on the first computing device; generating a transaction that describes the change; causing the transaction that describes the change to be transmitted to the second computing device; and interpreting the received transaction to implement the change on the second computing device, wherein interpreting the received transaction includes updating a state of the application's user interface based on a binding between a data model and a user interface component.