I have had a quick look at this. I installed the free client. All nice functionality, but I can’t see this working for any SME / large organisation with more than a few users. It can be a cheap way of having more integrated collaboration with people outside your company.
I will monitor Five Across for a while to see how they are doing. Initially they will most likely report a lot of subscribers who a curious and download / install the free client to play around with (like me). As no one I know is using this service (yet?) it has no use for me and I’m afraid this will also be true for a lot of others.
Five Across launches a business IM service called InterComm with group-based presence control and centralized file sharing.