Hi Paul,
I tried doing something like this years ago with FrameScript, but found out that the OLE stuff is not exposed to FrameScript or the FDK. So it is probably not exposed to ExtendScript either. When you query an OLE graphic's InsetFile property, it returns a null string, the same as a graphic Imported by Copy would. As far as I can see, importing as an OLE object is only available through the Windows FrameMaker interface.
Rick