Granted, Microsoft's lawyers probably wouldn't approve (because people might argue that they're agreeing to the simplified terms that have wriggle room and not the iron-clad legalese).
I think that works for CC because the people using the license are using the license and not the summary. It's ok if a third party to the licensor provides a summary.
For humans: http://creativecommons.org/licenses/by/2.0/
For lawyers: http://creativecommons.org/licenses/by/2.0/legalcode
Granted, Microsoft's lawyers probably wouldn't approve (because people might argue that they're agreeing to the simplified terms that have wriggle room and not the iron-clad legalese).