Thought about it - and the nightmare it would likely be trying to get through technical difficulties as we go along building the tunes together. Don't think it's very feasible (at least to make it a 'productive' class, to try and do an online version of it. Trying to watch what I'm doing, then repeat it on each users computer a step at a time I foresee a lot of problems (this based on all the problems I've seen occur in classes with me right there in the room and had to help people get sorted out on their computers from USB drivers to flat out problems with their computers)... I think online classes would leave a lot of people feeling ripped off for the time / money they spent on it.
Just don't think it's realistic. If it was just watching me do stuff, that'd be one thing, but I don't think most people would pick up a lot from just watching me make tunes. Seems hands on is the best way to get the information into peoples head... at least from my experience so far.