Motivated by the observations of high energy events well beyond the Greisen-Zetsepin-Kuz'min cutoff, we are performing a concept study for an experiment using Orbiting Wide-angle Light collectors (OWL) to study ultra-high energy (E > 10^20 eV) cosmic ray induced giant air showers in the Earth's atmosphere from space. Our goal is to develop instruments with the collecting power necessary to observe a large number of events above 10^20 eV. Employing two-satellite stereoscopic imaging will allow for the determination of arrival irections to 1 degree. By measuring the energy spectrum and identifying the incident particles, we will test the hypothesis that these particles are the result of a ``top-down" phenomenon such as the decay of ``topological defects" as opposed to a not yet understood ``bottom-up" acceleration process.