I selected "Oracle" as SQL dialect for my schema.sql file (in "File/Directory Options -> SQL Dialects)).
It works fine in Oracle 10 (err, or 9? I currently can't verify the version.)
However IDEA chokes at each create statement, see screenshot.
BTW: Why can I select "Oracle" both in "SQL Dialects" and "Template data languages"? (I tried both - seems not to make any difference.)