I would definitely not put Microsoft Office at the top of the list of those software products supporting ODF. Come on, let's face it! ODF is the pebble in Microsoft's running shoes. Even spelling the three characters will give Microsoft an unbearable nausea.
As for Oracle's take on this, I'm confident (at least for now) they will wholeheartedly support ODF
ODF is good because no one should be forced to purchase a specific OS and application just to be able to view/modify the information in a file. I stand by this declaration because as opposed to the software which I am entitled to use the way the vendor license permits me, the information I put in those files belongs solely to me, forever. I'm paying the software vendor for the permission to use its product not for him taking over my data.