I'm afraid I'd be useless for actual development, but I would like to say that I too am very interested in seeing this sort of thing happen.
Some things I've seen / heard of that would be cool:
Be able to upload an ODF document and have it transformed to XHTML and made into a Drupal node.
Be able to write posts in Drupal and have them automatically made available for download as ODF formats, similar to modules that do this for PDF.
I can confirm for Darren that Drupal accepts posts from desktop software through XML-RPC. I've used Drivel for that before, and tools like that likely have some code that would be useful, although I'm not sure about license compatibility (leave that for someone else too).
--
Tony Yarusso
http://tonyyarusso.com/
