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?"
A Second response to Mary Jo's, "Microsoft starts rolling out more OOXML translators" is also posted here. The title is "Standardization by Corporation". Shish-Ka-Bob makes the assertion the ODF 1.2 metadata model will enable lossless two way conversion between MSOffice and ODF. While it's true that that intent was a key component of the original July of 2006 Metadata Requirements, the proposal was eventually stripped from the final submission made in April of 2007. I try to explain to Shish how that came about. The second post here, "Standardization by Corporation", is a follow on to statements made to Shish. The statements have to do with the events at ISO, and what i think will eventually happen. IMHO, ISO will follow either the AFNOR or Brittish proposals to merge ODF and OOXML. To do this they will remove entirely the coproarate vendor influence of Ecma and OASIS, and perfect the merger entirely at ISO. My post just happened to coincide with ISO Governor Mark Bryan's "Standardization by Corporations" letter. A derpressing but nevertheless very true concern. In fact, the OpenDocument Foundation was created specifically to address our concerns about the undue influence big application vendors were exerting on ODF following the April 30th, 2005 approval of ODF 1.0 (which went on to become ISO 26300). ~ge~