This sounds like a lot of steps, but it works great. You don't have to worry about ODBC, or security of your data since they have their own copy they can do whatever they want with.
All you need is to copy the following code from Craig Pelkie.
This code returns the TCP/IP address of the remote client.
You then do the following:
1. Call the above code to get the remote IP address.
2. FTP the data from the AS/400 to a PC server.
3. Call RUNRMTCMD to the PC server to format the data how you want it (we use Excel Macros).
4. Then use RUNRMTCMD to the remote PC to open the final resulting Excel Spreadsheet.