I am on a MacAir 10.7.4, 64-bit (I think, I should check this...)
I installed the latest MySQL 5.5.25 package for the Mac, 64-bit (I believe!) and have successfully set up a DB 'test' and imported the northwind DB into it through the command line.
I have installed Connect/ODBC 5.1.11 64-bit from the DMG, and set up a DSN in ODBC Administrator. There appears to be no setup library (is this correct?) so I guessed what I needed to type in, setting my server to 'localhost' and the database to 'test'
In Excel I am now trying to extract data from the DSN. Using the Database panel I select my 'MySQL' DSN and press Test. This results in a dialog about the "driver could not be loaded" (sorry, it appears behind the excel document so I can't cut-n-paste the exact message), and when dismissed, another appears stating that Mach-O couldn't find the right architecture..
[iODBC][Driver Manager]dlopen(/usr/local/lib/libmyodbc5.so,6): no suitable image found. Did find: /usr/local/lib/libmyodbc5.so: mach-o, but wrong architechture