For UTF-16LE with BOM if you use tab characters as your delimiters instead of commas Excel will recognise the fields. The reason it works is that Excel actually ends up using its Unicode *.txt parser.
Caveat: If the file is edited in Excel and saved, it will be saved as tab-delimited ASCII. The problem now is that when you re-open the file Excel assumes it's real CSV (with commas), sees that it's not Unicode, so parses it as comma-delimited - and hence will make a hash of it!
Update: The above caveat doesn't appear to be happening for me today in Excel 2010 (Windows) at least, although there does appear to be a difference in saving behaviour if:
compared to: