Last year, Office 365 commercial users gained a new feature to quickly see a list of changes to shared cloud documents within the Office apps. Microsoft called this feature the "Activity feed," which can be accessed by clicking the Activity button near the far right end of the Office ribbon.
Today, the Office team announced that activity feed is now rolling out to Word, Excel and PowerPoint on Windows desktops for consumer Office 365 subscribers in the Office Insider program. As expected, the Activity button will only appear when a file is stored in OneDrive, and you can see how it works in the screenshot below.
When you click the Activity button, you will see a list of all the historical versions in the Activity pane, and you can click on a version to open it in a separate window. Additionally, it's possible to restore a historical version by clicking "Restore" in the message bar at the top of the opened version. Remember that this feature is only available to members of the Office Insider Program for now, but non-Insiders should receive it in the coming weeks.