This is a great feature, but only if you do screen captures for things like training material, or IT support to capture the image of the error - or maybe for the legal typist - if you are taking a screen shot of an email that is being used in evidence. It has been available in the past with the use of "Ctrl V" - but now it really is slick.
Under the "Insert/Illustrations" menu there is a new button called "Screenshot". When you want an image inserted into the document or spreadsheet, simply click the icon and choose the screen you want to capture
by selecting the real time graphic - the "Screenshot" will offer all the open applications which are not minimized for selection or click on the "Screen Clipping" and select the area where you want to take a screen shot, stretch it to what ever size is needed and "Bob is President in a neighbouring state", it pops into your document.
Once there, the graphic editing features are plentiful and plenty useful. Crop, image styles, remove background (in a previous Step by Step article), artistic effects and picture layouts to mention a few.
This could be used in conjunction with the Accident Sketch software that we reviewed a few weeks back - http://www.accidentsketch.com/ - just get the sketch done and then "screenshot" it into the Word document.