Well, it has been a long time since you asked, but I donβt think there is a reasonable way to achieve your goal in terms of creating a WPF OLE object application for direct embedding. The technologies are very different, and although there may be some obscure way of interacting through COM, you would probably save a lot of time by adopting a different approach.
For example, if you are just trying to "luanch" an application from Excel, create an OLE object that "launches" your WPF application, instead of trying to make them the same.
As for interaction, here are a few more readings.
http://en.wikipedia.org/wiki/Object_Linking_and_Embedding#Interoperability
http://en.wikipedia.org/wiki/Component_Object_Model
http://en.wikipedia.org/wiki/COM_Interop
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