Although still very much in its incubation stages, the web-based development tool Orion has just issued a new update, this time v0.3 and brings with it some improved functionality such as support for code folding, hyperlinks, better search and replace options, warning and task indicators, and more.

A full list of recent changes can be found on the official wiki:

http://wiki.eclipse.org/Special:Recentchanges 

There are additional notes, including screen-shots and examples on the Orion blog official post:

 http://planetorion.org/news/2011/10/announcing-orion-0-3/

If you have a hub account you can log-in and get going right away, if not you can get one here, for those that prefer to run from local-host, take a look here.