No, just OOO cobl, nothing fancy, just the support options for your overhauls. Get MMM installed correctly yet. Also, we are in a forum full of betas and such, so v3 is not very descriptive. You should be using version 3.7b3. Go to the latest MMM thread for the links and instructions for the latest downloads and the MMM 3.7b3 OMOD installer.
Edit: Did you install OOO 1.33 complete before installing OOO 1.34b5?
I haven't installed OOO 1.34b5.
EDIT: I installed MMM 3.7b3
Heres my current load order
Oblivion.esm
Cobl Main.esm
Oscuro's_Oblivion_Overhaul.esm
HorseCombatMaster.esm
Mart's Monster Mod.esm
ACCCGR.esp
Thieves Arsenal.esp
ExnemRuneskulls.esp
Oscuro's_Oblivion_Overhaul.esp
Amajor7 Imperial Furniture.esp
The Ayleid Steps.esp
Cyrodiil Travel Services.esp
The Lost Spires.esp
Kyoma's Journal Mod.esp
Alternate Start Revamped.esp
RealisticForceMedium.esp
SupremeMagicka.esp
MidasSpells.esp
svaReEnch_1C.esp
Deadly Reflex 5 - Timed Block with no damage or durability changes.esp
DeadlyReflex 5 - Combat Moves.esp
Oblivion XP.esp
Beautiful People.esp
ZOMBIES! - 28 days and a bit V2.esp
blackleatherarmor.esp
Mart's Monster Mod.esp
Mart's Monster Mod for OOO.esp
Mart's Monster Mod - Diverse Runeskulls Loot OOO.esp
Mart's Monster Mod - More Passive Wildlife.esp
Mart's Monster Mod - City Defences.esp
Mart's Monster Mod - More Wilderness Life.esp
Mart's Monster Mod - Farm Animals.esp