Team Direction has released a beta of a new project management tool for Groove. I haven't tried it out yet, but I'm currently working on a project that requires constant scheduling updates and coordination with an outside consultant. I've been going back and forth between MS project, Excel and the current Groove project toolset. Team Direction Project looks like a worthy alternative. The UI looks outstanding. I also like their moto: "Store locally, work globally."
Beware line-of-business executives: prehistoric, glass house, armpit-scratching folks still exist in many IT organizations. And they are stifling your ability to innovate.