Apart from the huge lack of clear documentation regarding setup and configuration, at best it seems to work sporadically; at worst, it simply doesn't work.
I have managed to set it up and get it working but not consistently, so if you choose to pursue this and you find it buggy, please do not 'blame' me as there are a host of complaints on both the Google Analytics Help Forum and the Google Docs Help Forum about how much this feature leaves to be desired in relation to it working (or not).
There are three steps to the setup, if you feel comfortable doing so, simply skip to the step that you are wanting to review.
- Create a new Google Analytics account for tracking Google Docs
- Google Docs settings and prep of document for tracking
- Finish setting up your Google Analytics tracking profile
Press onwards ...