I have mixed feelings about "Second Life" in education (largely because of the technology requirements), but I think I have heard of someone doing Shakespeare in SL. Would actually be very interesting, I think, and performance arts in that medium should be fascinating to watch.
I can also see many of the ways in which wikis and blogs are being used for general "English" classes coming into play. You can click on the "english" tag to the right to see some discussions.
Check out Google Lit trips. I believe there are some for Shakespeare and if not looking at what is there will inspire you to make your own. We also did some work with Sketch-up and a Shakespeare unit having the students create sketchups of the globe theater.
As a group we were able to find this website: http://www.pbs.org/shakespeare/educators/technology/casestudy2.html. This is a lesson plan that we found to be very benficial if applied to the right age group which we thought eigth grade and up would fit. Using technology, like a video camera to record a play done by the students could even be extended to have them then create a movie trailer with the footage.
Bree Schultz-Tori McDonald-Nicole Shultheiss