How to understand 'Value co-creation'

This blog will tell different view for 'Co-creation' & 'Value co-creation'
http://peachpic.blogspot.com/2011/02/co-creation-and-value-co-creation.html

Another view of 'co-creation'
http://www.josebaldaia.com/intuinovare/?p=3417&lang=en

So many issues in 'Value co-creation'
1. usability vs value-in-use
2. customization vs co-creation
3. value-in-use & value co-creation ==> different? same? equivalent?