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I need to know whether or not SharePoint will accept updates when changing the Oracle entry. Does SharePoint have this feature out of the box, or do I need to enable/create a solution? I would try this, but I do not have access to the Oracle database.

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It depends on how it is uploaded to SharePoint. If it is just uploaded into a document library, then you may have to check it out in order to update it and you will have to click to refresh the data from Excel -- in other words it should work just as it does from the desktop.

If you plan to use Excel Services, then you'll need to be sure you are using Kerberos authentication to make it behave correctly. If not, the data will load the first time, but then refreshes won't work because of what is called the "double hop" problem. You will still likely have to push a button to refresh the data. Excel doesn't seem to want to refresh automatically from SharePoint.

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So if I wanted to get data from Oracle to a document in SharePoint, I would have to have some kind of manual "update?" I mean that no automatic update, but having to button press/check out. –  sange Sep 1 '10 at 19:23
    
If you don't require checkin/checkout on the document library, you will not have to check it out. You will just open it up in edit mode and click the button to refresh the data source. –  Rob Wilson Sep 1 '10 at 19:38
    
The problem I face is that I need to make it automatic for the end users to not have to press anything and have it do everything without their input. –  sange Sep 1 '10 at 19:45
    
If you are using Excel Services, it can probably be done using the settings about 1/3 down on this link: technet.microsoft.com/en-us/library/cc262899(office.12).aspx . Some folks even suggest using a HTML meta tag to refresh the page (with code in a content editor web part), but I'm not confident that would cause the data connection refresh. You may try it and see if it will auto-refresh for you. If not, I'm honestly not sure of a way to force it. Every solution I've seen seems to have holes in it. –  Rob Wilson Sep 1 '10 at 20:26
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