The InterLabs state-of-the-art Web-lecturing tool for online education has been designed, developed, and tested at the InterLabs Research Institute at Bradley University, Peoria, IL, as a part of the National Science Foundation?s CCLI-EMD grant # 0196015 [1]. It is based on active utilization of innovative software engineering, streaming multimedia, communication, teaching, and learning and information technologies. Student formative and summative evaluations and academic performance clearly demonstrated the advantages of the innovative online courseware based on web-lecturing technology. This technology along with reusable learning objects (including SCORM, IEEE LTSC, IMS and Dublin Core standards for learning objects), multiagent technology, intelligent tutoring systems, new developments in instructional design, XML, PHP and other programming languages lead towards a new generation of virtual learning environments - open, learner-centered, knowledge- driven, intelligent, agent-based, collaborative, interactive Open Learning Environments (OLE).