Sorry Shish, you're wrong about ODF 1.2
Try ODF 1.5 or ODF 2.0, maybe.
The metadata requirements for ODF 1.2 actually did include two way lossless translation capability. Unfortunately these features did not survive the final cut, and were not included in the April 2007 submission.
You might also want to check the February 23, 2007 metadata proposal from Florian Reuter. That also would have delivered the goods and perhaps put ODF that grand convergence category of usefulness across desktops, servers, devices and web systems currently the exclusive domains of MS-OOXML and CDF+. Florian had devised a means of using metadata to describe the presentation aspects of content and structural objects. Very revolutionary. And based on the simple notion that bold, font, margins etc. are simply metadata about content and style objects.
Where the train came off the track had to do with the concept of an XML ID means of linking metadata to content. Not that there was anything wrong with this mechanism. It's actually quite clever. What went wrong was that Sun insisted that only those elements approved and supported by OpenOffice would be allowed to make use of XML ID metadata. For independent developers, this is a serious constraint.
Because of this constraint, the metatdata sub committee started off with six elements supported by OOo that metadata could be appied to. IBM then came in and asked for eleven more elements having to do with charts and graphs. The OpenOffice crew decided they could support this, so in they went. Then an interesting question was posed, "How are independent developers supposed to submit elements for metadata consideration?"
Gary Edwards on 20 Jan 08Mary Jo takes on the recently released Burton Group Report comparing OOXML and ODF. Peter O'Kelly, one of the Burton Group authors, once famously said, "ODF is a great format if you live in an alternative universe where MSOffice doesn't exist!" This observation speaks to the core problem facing ODF and those who seek to implement the ODF standard: ODF was not designed for the conversion of MSOffice documents. Nor was ODF designed to work with MSOffice applications. Another way of saying this is to state that ODF was not designed to be interoperable with MSOffice documents, applications and bound processes. The truth is that ODF was designed for OpenOffice/StarOffice. It is an application specific format. Both OOXML and ODF do a good job of separating content from presentation (style). The problem is that the presentation - layout layers of both ODF and OOXML remains bound to specific applications producing it. While the content layers are entirely portable and can be exchanged without information loss, the presentation layers can not. Microsoft makes no bones about the application specific design and purpose of OOXML. It's stated right in the Ecma 376 charter that OOXML was designed to be compatible with MSOffice and the billions of binary documents in MSOffice specific binary formats. The situation however is much more confusing with ODF. ODF is often promoted as being application, platform and vendor independent. After five years of development though, the OASIS ODF TC has been unable to strip ODF of it's OpenOffice/StarOffice specific aspects. ODF 1.0 - ISO 26300 had three areas that were under specified; meaning these areas were described in syntax only, and lacked the full semantics demanded by interoperable implementations. Only OpenOffice and StarOffice code base applications are able to exchange documents with an acceptable fidelity. The three under specified areas of ODF are: Lists (numbered), F