An easy way to convert LaTeX documents to .odt or .doc, as recommended by ohsss at Ubuntu Forums here, is via a command-line program tex4ht. You install it (sudo apt-get install tex4ht) and then issue these commands in your terminal:
$ latex document.tex
$ htlatex document.tex
where document.tex is your LaTeX document. You should now get a document.html file in the same folder. You can open the html file from LibreOffice Writer and save it as .odt or .doc or copy the formatted text into some other document.
For the opposite direction, I previously tried the Word-to-LaTeX Microsoft Word plug-in by GrindEQ which works good and has many options, but you can only use it for a limited number of times free of charge.