As I explained it in a previous post, I am working on fixing docx import in OpenOffice.org. I have fixed a bug on the pictures import recently. The patch fixes the issues i#97645 and i#96021. The i#96021 issue fix isn't complete yet, because it has something to do with shapes import which aren't working at all. The patch has been committed to go-oo trunk. As one of the fixes isn't complete, I still haven't submitted it to the upstream.
Here are some screenshots to show the differences:
Picture in Word 2007
Pictures import in OOo without the patch
Picture import in OOo using OdfConverter
Picture imported in OOo with the patch
Thanks again Andrew for providing your useful reference document and pointing out the bugs.