Thanks to LightningTools following blog post, I was able to quickly disclose CRM Online data is SharePoint Online.
Check out this post.
I am working myself working on the post of connecting to SharePoint 2010 Online from MS CRM 2010 Workflow or Plugin Assembly. The workflow assembly is not supported in MS CRM 2011 Online just yet… but the beta of RU8 is released. The wait is for the RU for MS CRM 2011 Online.
Check out my blog… I will post the solution shortly.