In this sentence, "odd" means strange, peculiar, or unexpected. It implies that the speaker finds it unusual that Mr. Morley would find value in a nonsensical principle.
Here's a breakdown of the sentence:
* It is odd - This sets up the speaker's opinion about the situation.
* that Mr. Morley should see any point - This emphasizes the unexpected nature of Mr. Morley's action.
* accepting a nonsensical principle - This refers to the action that the speaker finds strange.
Essentially, the sentence is suggesting that Mr. Morley's acceptance of the nonsensical principle is unexpected and doesn't make sense to the speaker.