Joe Moxley, English faculty at the University of South Florida created Teaching Wiki, rolling with a good set of examples and specific ideas of how teachers and students might (and are) using wikis:
Teaching Wiki aspires to be a community for college-level faculty. We imagine our primary audience to be faculty who are interested in writing instruction, perhaps technorhetorians but (as we invoke the wiki way here), we invite all college faculty and instructors to be wikiteachers with us.
Whizzing quickly past the usual “what a wiki is”, this site has major sections on “Invitation to Use Teaching Wiki”, “Suggested Wikis for Student Writing”, “Wiki Software, Issues,& Philosophy”, “Wicked Wikis > Examples of Interesting Wikis”, “Wikis about Teaching with Wikis”, “Examples of Classroom Wikis”, and the age old question, “Why Wiki When I Can Blog?”
Wikis are climbing the hype curve quickly.