1. An innovation that particularly appeals to you; give your reasons.
Microblogging. Okay its been around for a few years now so you might not see it as cutting edge innovation, but i think it is still in the early stages, as there are lots of different systems (twitter, jaiku, ect.) that between them have some great features (hashtags searchers, threaded conversations) but I have not seen a system so far that includes all of them. The reason why I like it so much is because it is a great way of developing and utilising communities. http://en.wikipedia.org/wiki/Micro-blogging
2. An innovation that you think is particularly valuable; again, give your reasons. It could be the same as in 1.
I would choose creative commons, although that may depend on your definition of valuable. I think it represents the fact that existing copyright laws are not suitable for a creative and collaborative future http://creativecommons.org/
3. The sort of learning (if there is any: frivolity is permitted) that your examples are likely to encourage or facilitate.
Microblogging is all about communication which can lead to collaboration. I think it touches upon a number of the issues covered in this course including cognitive apprenticeship as learners can join communities of others more experienced in their field and become an active part of that community. A change in the ideas about copyright can let creative people do what they do best without fear of prosecution.
4. The most over-inflated claim about an innovation!
“Second Life will be bigger than the Internet” http://www.danfost.com/2007/09/16/second-life-will-be-bigger-than-the-internet/