i don't think it will work. i have had all the birthdays on my mac contacts updated but it's not tied to calendars. how lame. i had to manually go to ical and add people's birthdays. come on Apple -this one is obvious
If you put the birthdays in as Events in your Outlook calendar, they'll work, but it won't create events strictly from the contact information. I've got all relatives and close friends' birthdays set up as day long events with one week reminders. That gives me plenty of time to get birthday gifts and cards in the mail.