There's no direct way to interface with ODBC from Node that I know of. If you're on Windows, you can try launching a WSH script in a child process:
child_process.exec('cscript.exe //nologo wsh_script.js', function (error, stdout, stderr) { ... });
where wsh_script.js would interface with Excel and return the results (perhaps in JSON) to Node via stdout. For instance, wsh_script.js might look something like:
var objExcel = new ActiveXObject('Excel.Application');
objExcel.Workbooks.Open(xlsFilePath);
var cellValue = objExcel.Cells(row, col).Value;
WScript.stdout.write(cellValue);
See this question or this article for more info on how to interface with Excel/ODBC from WSH.