OLE stands for Object Linking and Embedding. This is a technology used by the Microsoft. It allows the embedding and linking of documents to each other. While linking is being done, the files remain separate but information is updated on the file.
OLE can stand for many things. In the educational field it usually stands for Open Learning Exchange, but it can also stand for Object Linking and Embedding or Open Library Environment. You can find more information here: http://acronyms.thefreedictionary.com/OLE