From the website:
The Open Game Engine Exchange (OpenGEX) format is a text-based file format designed to facilitate the transfer of complex scene data between applications such as modeling tools and game engines. The OpenGEX format is built upon the data structure concepts defined by the Open Data Description Language (OpenDDL), a generic language for the storage of arbitrary data in human-readable format.
The OpenGEX format was created because Collada, the open standard that we all hoped would provide a well-supported asset exchange format, has proven to be an unreliable mess. The most common source of problems has been the poor quality of the Collada export plugins available for software such as 3D Studio Max and Maya, and we attribute this to Collada’s over-engineered design and its mutating under-specified format.
It’s created and maintained by Eric Lengyel, creator of the C4 Engine.
I quite like the idea of eventually abandoning our OGRE format support in favor of FBX, OpenGEX and Blender.