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I don't know much about Power Pivot; in particular I don't have it and have never used it. I do know that it's an add-in to Excel that apparently improves Excel's performance with very large data sets.
If that understanding is correct, a Power Pivot file is just an Excel file. Now, given that Power Pivot is intended for very large data sets, it is likely that the resulting data file will be too large for -import excel-. But there are two ways around that:
1. Free of charge: in Excel export the data to .csv and then bring it to Stata with -import delimited-.
2. Buy StatTransfer and use that. StatTransfer is relatively inexpensive and, in my view, gives enormous value for the money. It will give you the ability to translate data sets among all commonly used spreadsheets, databases, and statistical packages. There is also set of Stata ado files that comes bundled with it that permit you to invoke StatTransfer from within Stata.
(No, I do not have any ownership or other relationship to Circle Systems (the vendors of StatTransfer). I just use and really like their product.)
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