Personally, I don't think it's okay for either team to do so - I have no doubts Bond and Oram could have played. And really, I'm none too pleased when Australia do it for series or two either. It shows a lack of respect for the opposition and the match they are playing. If players make themselves unavailable for tours, then you can't do much about it, but when players are available and are rested by selectors for any match, I question whether the match should have ODI status.
Tactically it's fine, but realistically I disagree with the process.