One of the nicest implementations of suchc functionality is still FileMerge, a program that has been around since NextStep days in the developertools on every OS X install medium.
FileMerge is getting old in the tooth, though, it has problems displaying anything but pure ASCII and some other stuff it simply wasn't designed to handle, but visually it is very intuitive. Much much better than (dare I say it) track changes in Word.

I am probably making a foool out of myself again because KB has already built in this functionality and I have just missed it. But I'd really love to see this in Scrivener. What do you think?
Prion