If you build it as a web app it should, it's quite flexible. I think you'll find it's maybe not as easy as you'd like it to be otherwise there would be more RADs for e-learning, or as you probably want a more template driven system.
Silerlight might work too I've not looked at it as I don't tend to use M$ stuff too much other than for the OS.
You could always still use Courselab just do some collaborative work with the designers to build some generic pages, they just fill in the details.
Another thought might be the old Dreamweaver e-learning extensions, you might find it easier to work templates into this, depends hoe your html, javascript and xml coding is.