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Comment by wizofaus
In one of my first jobs, code reviews were done exactly like this, with the the reviewer (my boss) and I sitting together at one computer going through the changes.
It definitely has benefits but it's still important to ensure recommendations/concerns etc. get written down and doesn't necessarily help if there's a need to go away and make significant changes based on the outcomes of discussions.
But while the back & forth discussion that often occurs during review can benefit from being synchronous, it might still be some time before your coworker has available time to participate in such a session, so it's still likely you'll need something else to work on in the mean time.