Excel might indeed be good, but that doesn't diminish the programming effort required. And I'd question whether the ROI would justify the effort.

If the idea is for the users to suggest changes in the Excel file, I think some of your reviewers will find that rather limiting. Alternatively, if the idea is to collate the changes from 20 reviewers' documents, once you have people changing the wording of headings, re-ordering paragraphs, sentences, etc plus adding/deleting text, simply having 20 versions of the proposal in Excel isn't really going to help much with making sense of it all.

Granted, you wouldn't want 20 users' changes being tracked in the one Word document either, which is why I suggested the 'compare documents' function. That way, each review edits just their own copy of the document. Besides, you wouldn't want reviewers undoing each others' changes and getting into arguments about that!

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Cheers,
Paul Edstein
[Fmr MS MVP - Word]