While ODF is an ISO standard, Microsoft lobby hard to get their OpenXML to be standardised also, in the face of objections from a substantial number of countries (strictly the National Bodies that represent national interests at ISO).
A CETIS colleague blogged about all of this last January, but in the mean time a translator has been developed that can be used as a MS Office add-in and MS is now having a second go after getting a bloody nose the first time. Place your bets please…
I see from http://news.zdnet.com/2424-3515_22-192023.html?tag=nl.e550 that MS are releasing a SDK that is not (and is not intended to be) compatible with the version being promoted to ISO. Looks like a rotten trick to me.