when the ole object is placed inside the report, report 
converts it into static object i.e it creates the copy of 
the original object .If any modifications are done to the 
object in the report only the object present in the reports 
get affected.

1.actually it depends on the type of ole implementation u r 
doing i.e.  static , embedded or linked. (refer 3)
2. An OLE object is,  a presentation of data that was
created in another application and that maintains a 
relationship with the  application that was used to create 
it. A bitmap created in Paint, an Excel
spreadsheet, or a graph from MS Graph may all be OLE 
objects if they are inserted in the receiving document as 
OLE objects. If they are not inserted as OLE objects, they 
retain no relationship with the original application.

3. 
Static object
A static OLE object is a picture of an object that can be 
displayed and
printed, but not edited in place. It does not have a 
connection to a server
application. There are two kinds of static objects: static 
bitmaps and static
metafiles.
• Embedded object
An embedded object contains a representation of the object, 
as well as
information that defines the content. It does not have a 
connection to the
original object in the server document. As a general rule, 
use embedded
objects when you need to edit the object independently of 
the original
server document.
• Linked object
A linked object contains a representation of the data and a 
link to the file
where it originated. As a general rule, use linked objects 
when the data in
the server document is changing and you want the object in 
your report to
be updated when you open the report.


i think this should help u .