Office 12 and New Formats

Microsoft's next Office Suite, codename Office 12 will use new formats for their default file formats and it will use XML-based format. The new Word, Excel and PowerPoint formats will be designated as .docx, .xlsx and .pptx , respectively. Microsoft is referring to the family of new formats as "Microsoft Office Open XML Formats."

For users of older versions of Office — specifically Office 2000, Office 2003 and Office XP — Microsoft will make available software downloads that will allow them to read, edit and save using the new file formats. Microsoft also plans to release a conversion tool that will allow users to point to files in an older format and convert them en masse to the new Office 12 XML format.

The problem is "Will OOo able to read and modify the content of the next format of MS Office?" I'm looking forward to see this happening in the next OOo major release (perhaps OOo 2.2.x ?) since MS Office 12 will be launched next year.