The result of this work is a hybrid technique which I think combines the best features of Operational Transformation (especially the RAM-efficiency) and CRDT (ability to work in arbitrary network topologies, not requiring a central server). It also turned out to be appealingly simple, about 400 lines of JavaScript. That's with a core data structure implemented as a balanced binary tree, to make the merge algorithm O(n log n), as opposed to O(n^2) for the best operational transform algorithm I know about (n is a measure of the number of edits in flight concurrently).
For anyone spinning up a new collaborative editor, I believe these techniques are a significant advance. Of course, if people disagree, I'd be more than happy to discuss.