We have done the OpenERP installation on many hosted OS with different server for OpenERP implementation.
We have done this on Many times on CentOS with Bluehost shared hosting.
We have done it on different OS version 5, 5.5, 6, 7 etc.. We have also installed Odoo on amazone web server, amazone RDS with following OS.
Ubuntu.
Fedora
OpenSuse
Debin GNU linux ..etc
thank you for your consideration