Active Roles 7.2 now supports identity management for Exchange Online.
Here is a list of the supported operations:
1) Setting Exchange Online properties;
2) Delegation of Mailbox (Send as);
3) Enable/Disable Mailbox Features (For example, POP3, IMAP, Archiving);
4) Mailbox Settings (Message size restriction);
5) Manage permissions for recipients "Send As" and "Send on Behalf";
6) Support for "Email Addresses" all the email addresses (proxy addresses) for the recipient, including the primary SMTP address;
7) Message Size Restrictions;
8) Delivery Option;
9) Enable or disable POP3, IMAP, MAPI, Outlook Web App or Exchange ActiveSync for a mailbox in Office 365.