It's been a while but if I remember correctly, there was a slider on the top right with a play button. It allowed me to scroll through the history of the doc akin to Time Machine. That visual playful approach is much more engaging than a drop down list of versions. Titles and dates really tell you nothing about the nature of the document.
Watching an essay evolve with a click of a button was awesome and uniquely informative. A killer feature that should not be sacrificed. It was certainly a feature that could help Google Docs position itself above native applications.