The usual way of email integration is a bit different.
CiviCRM can read a POP/IMAP account, this can be the full account or a subfolder in it.
Then you have your own mailreader, be it outlook, thunderbird, gmail, office 365 mail or any other system.
What I often do for customers is the subfolder option.
When any email is worthy to be stored in the CRM it can be copied to the subfolder. CiviCRM then stores it as an activity. The activity is connected to both the sender and the recievers of the email.
If email address exists in the CRM then activity is connected to that contact. If email address does not exist a new contact is created.
Much more information can be found http://wiki.civicrm.org/confluence/display/CRMDOC/Autofiling+email+activities+via+EmailProcessor
When you see a much better solution with a different kind of integration with Office 365 mail, you can consider helping the whole community with an extension for it.