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The traditional iCal sync from OmniFocus only creates To Do items in the calendar, not events. I think there's an Applescript floating around (check the extras forum) that will convert them to events, but it's a one-way path, and changes you make to the calendar won't be reflected back in OmniFocus (they will be if left as To Do items).

As of OmniFocus for the iPhone version 1.5.2, there is a feature to put events in a calendar which can be subscribed to by iCal to give alerts on the iPhone or iPod when due date/times are imminent, even if the device is not connected to a network. At the moment, the corresponding feature on the desktop is not in released software, although it is supposed to be out soon (it was planned for the current desktop software, 1.7.1, but didn't make the cutoff when Apple shipped Snow Leopard earlier than expected). It only puts in the notifications for events having due dates in the next couple of days, so it isn't really a replacement for the traditional iCal sync.

Clear as mud?