Blechh! I think this is certainly a capital offence, Hyla. Not only are there perfectly serviceable phrases for being out of the office (how about "on vacation"?), but using "out of pocket" to mean "out of the office" creates confusion because it is already a fairly common phrase in the business world. While the rationales and explanations put forth by my esteemed colleagues are reasonable and even understandable, why muddy the waters with such a mis-used phrase? I've also never heard the phrase used as BY explained, I'd say "out of cash" or "short" instead.

That said, Hyla, I hope you are "out of pocket" on paternity leave by the time I post this!