Yes, it will be interesting to see who will catch up to who. On the one hand OpenOffice/Apache Office has basically not seen any development for the last 2 months, while TDF/LibO has seen 3 releases in that same timeframe. On the other hand maybe IBM will finally kickstart Apache into action.
Does anybody understand what exactly is offered though?
It seems it isn't the UI parts, since those are java and would need a special eclipse framework and a jvm, and they are only offering C++ code. And this post makes it sound like they will not have any community input since they will do the integration in their own ClearCase (!?!) repository: http://mail-archives.apache.org/mod_mbox/incubator-ooo-de...