I was looking at an Excel book where they describe using MSQuery as a go between between external databases and Excel. From the sounds of it you should be able to use DDE to interface from Procomm to MSQuery and ODBC from MSQuery to Oracle. Not sure if you can download the Oracle ODBC driver for MSQuery for free or if MS charges for it though. I think MSQuery is included with Excel.
It would not be direct but at least you might be able to remove Excel from the equation.
Otherwise it sounds to me like an interesting programming project to write an aspect DLL for ODBC support.
Unfortunately that is well beyond my current capabilities and I don't expect that to change for a year or more...
The book I was looking at is EXCEL Professional Techniques by QUE, covering Excel ver 5, copyright 1994.
A little dated but the info seems to be fairly good.
Hope this helps, D.T.