The best answer I can give is "probably". What you are basically doing is preserving the use of the Jet database engine that are utilized by your code (DAO & other features) even though the database itself is not Jet, right? If that is the case, ODBC can be used to make the backend database tables look like they are comnig from the Jet database engine.
This works fine (usually) with ODBC links and "passthru" queries. I prefer using the table links rather than passthru queries because of the types of optimization problems I typically encounter. However, you must do things like rename your table links to the table names in your original version (ODBC comes up with its own names) and things like that.
A few important considerations ...
1. After you build your ODBC links, make sure that you click on the "Relationships" button in Access and define your referential integrity rules. This is necessary because you will still be using the Jet database engine optimizer for your queries. Without the referential integrity defined you will end up doing a lot of sequential searches on your data.
2. Be aware that if you embed your SQL statements into your VBA code that the Jet SQL and ODBC SQL are not exactly the same. For the most part they are pretty close. Every now and then you find some differences.
3. Your code may not be as portable - each machine must have the ODBC data source configured the same way as on your computer. This can lead to serious deployment issues.
4. If you use passthru queries, remember that you risk serious performance problems when you do joins with other queries.