I like being listed in DMOZ, but I must say I hate the descriptions that were written. Aside from being vague inaccurate and misleading, one says (falsely) that payment is required for download of my product, without any mention of the considerable free content. Actually, there's a totally free review option that the editor didn't see. So I use NOODP and probably will for all of my sites that get a listing. EDIT: I just checked, and for some queries, the ODP description appears while my <meta> description appears if I change the search. Strange!
In ten years of being listed in dmoz I never got one direct referral from them which shows they're not as necessary as you think. What's noodp? Yet another directory?
NOODP IS Meta Tag. If you want to tell google that please don't take title and disciption from ODP directory for serp display. Then you can use this tag on your site <META NAME="ROBOTS" CONTENT="NOODP"> for more info check that URL http://www.mattcutts.com/blog/google-supports-meta-noodp-tag/
Dmoz list is beneficial but I also not prefer the title and description of odp. So I have not included the description of odp listing.
NOODP should be default. There are thousands of sites listed within DMOZ and BILLIONS not listed. So honestly, the search engines should ignore the ODP descriptions completely, or at least make the NOODP the default and make a yesodp tag (lol).
They use it because they know that descriptions made by editors should be more relevent than algorithm generated ones or keyword stuffed descriptions made by webmasters. I however like the descriptions that show the query in its context, saves a lot of time.
When I write one (which is not always, to be honest), the meta description tag is usually a far better description for the search engine snippet, which doesn't always even make sense. Not everyone posts a useful meta description, but surely it must be fairly easy to filter out default metas left by various scripts and other website creation software, so that when there's a "put your description here" type of message they use something else. I agree with Qryztufre, NOODP should be the default. The categories I've looked at lately have a tendency to be neglected, typically around 30% of the descriptions are wrong because the page has changed a great deal or the link is dead.