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<tt>RODM</tt> is an open source package. It is available on CRAN. It uses <tt>RODBC</tt> for connecting to the database. You only need it on you client machine (both R and <tt>RODM</tt>). The server only needs to have ODM (what is now called Oracle Advanced Analytics) option enabled (which is true by default I think).
Another option is to use Oracle R Enterprise (ORE) which is also part of OAA option. Version 1.3 has an <tt>OREdm</tt> package with a more transparent interface. For OAA customers <tt>OREdm</tt> is a supported package while <tt>RODM</tt> is not. ORE is available for download on OTN.
I assume you are asking about installing ORE now. The steps you listed are mostly correct. You missed installation of ORE packages for both client and server that should be done right after installing R. Also, please, note that for ORE 1.1 we recommend R 2.13.2 while for ORE 1.3 we recommend R 2.15.1. For more details about installation, please, consult ORE documentation that is available from the ORE download page (the link is available in the previous post).
If you were asking about installing RODM then on the client you need to install R first and then RODM package. On the server you need to install the database with ODM option enabled.
Hope this helps. Let me know if you need more help.