Dave,
I think you are correct about ODBC being broken, at least for certain repository types - I've only tried this on SQL Server and Oracle.
There was something in the release notes - way back, so I really don't know when - about OLEDB becomming available. I don't know if Sparx ever 'officially' switched, but I doubt it; that would break all kinds of things. The intent might be to use the OLEDB ODBC driver, but that is not spelled out in either the release notes, or documentation.
I notice with interest that the Import DB Schema from ODBC option remains documented as just that, ODBC. I've tried this via OLEDB with the above databases and it seems to work there, but have not done an import through ODBC for some time. This machine has no old drivers (hardwre configuration dates back to Q4 2005), nor have I chosen ODBC connectivity as an option on any installations, so it is a poor test platform
I think this should be issued to Sparx as a bug. In this case the Requests and Suggestions forum is appropriate, since the replies from Sparx (whether this is by design, or whatever) would be of interest to the community. At the very least the documentation and menus should be updated to reflect the current feature set.
I'll leave you to do this, since you can probably give a specific example, which may be helpful to Sparx.
David