Hi <Please Supply Your Name>
First check that SQL Developer is using JDK 1.7 as this is the last release of the Java JDK to has JDBC/ODBC bridge.
Its also important that SQL Developer uses the 32 bit version of the JDK if your MS Office Install is 32 bit.
In SQL Developer 3.2.2 you can change the JDK used in the sqldeveloper\sqldeveloper\bin\sqldeverloper.conf SetJavaHome
Hope this helps.
SQL Developer Team