Yes -- it has trouble with some files, like any AbiWord / OpenOffice install, but I think it is rare as it can be outside of MS Office itself.

Failing that, you can run OpenOffice (completely non-integrated) off of a debian chroot; it's complex, but Qole has a guide somewhere about it. If you want to fiddle with it, you can also install KDE, and that gives you yet another option in KOffice... you also get the KDE PIM suite, which is extremely nice and powerful, but for a desktop, not an IT. KOffice can open both of those files as well.

Abiword and Gnumeric are hildonized properly and easiest to install and set up, though -- but you have a lot of options. Heck, you can run Palm OS on your IT, too, although not fullscreen.