I was thinking you were going to refer to .Net linking with Office, which seems to be something different from the COM automation, and more complicated than I've ever been interested in.
That, however, looks pretty darn cool. On the odd occasion I've used Python/COM/Excel together, I've really wished for a Python shell inside Excel to do things like:
for cell in Range('a1:a10'):
cell.Value = cell.Value.split('-')[0]
or whatever. I don't know if Pyinex will quite do that, but thanks for the link!