I love the functionality of the new Dropbox badge. While Dropbox is an important part of my file workflow, it is not that important that it deserves it's own badge. Microsoft Office has a great Plugin system - I already have the Adobe PDF Plugin and that is deeply integrated with the software. Dropbox could also just have it's own ribbon, or have all it's functionality integrated in the File menu.
That would make it way more slick, and - in my opinion - usable. From a marketing standpoint, I understand that you want to push the Badge functionality. Maybe you could make the native plugin a Pro feature, that would also be good for me.