I believe I found a work-around. When I checked the "Force SQL_WCHAR Support" option on the Workarounds tab and refreshed the links to the Oracle tables, the data was retrieved successfully. To verify, I unchecked the option, refreshed the links again, and the data came back as #Deleted.
We are in contact with Microsoft concerning the issue and are awaiting a final resolution. In the meantime, we will utilize this modification to our ODBC DSN.
It would be my guess that Oracle Short text fields are stored as wide characters, or at least they have the option to be, I am not a DBA, and when they are, the ODBC layer is not picking up on that with regard to the indexes.