Jan van den Beld, the person who help Microsoft gets OOXML through ECMA, challenged us to come out with a new international process if we disagree with the current process that OOXML goes through. My response, no need.
The process did not work not because it is flawed, but because it is abused. To stop this type of abuse, we simply need to tighten up the procedure. ECMA did not want to tighten up its procedure, so ECMA must take the full blame if it is seen to be the abuser.
As for ISO, it is still difficult to say whether the Fast Track process is being abused. If OOXML passes, then the evidence may eventually show that it is being abused. If it fails, then one can argue the process stood up, although there were a lot of money wasted.