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Sounds rather like Delicious, just with privacy restrictions. Although, I can see myself using something like this.

Here's what Delicious's FAQ (http://www.delicious.com/help/faq#network) has to say about it:

Can I share a bookmark with just the people in my Network?

No, bookmarks can only be public or private right now. We may add something like that in the future, though.

That FAQ is almost exactly what we want to offer. I have completely different bookmarks at work to what I do at home. People at work would find my browser bookmarks really useful but some of these are sensative and have no place in the cloud. The idea therefore is to create a solution for this problem (if one does not exist already).

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