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Excel Output to Office 2007

Does anyone know how/if output to Excel will be supported with Office 2007 since OWC is going away and the internal format has been changed to .xlsx type. We use report .jsps to display htm/xml in an Excel object using OWC, but I do not believe this will be feasible on an ongoing basis. Will the DESFORMAT = SPREADSHEET work now that Excel internals have changed? Any insight / development options are appreciated.
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