ISO and IEC have give the go ahead for OOXML to be published as a standard, refered to as ISO/IEC DIS 29500. There were some appeals against OOXML, however they have been rejected by the standards bodies. Andy Updegrove has the voting results and their intepretation.
In spite of interesting statements by Microsoft people, lot of answers are still absurd. Co-existence of ODF and OOXML will take a lot of effort, even on the part of users. I hope all this ends with benefits for you and me, and not just the businesses involved.