I ran tests on a ORC-table. It is possible to convert a string to a float column.
ALTER TABLE test_orc CHANGE third_column third_column float;
would convert a column called third_column that is marked as a string column to a float column. It is also possible to change the name of a column.
Sidenote: I was curious if other alterations on ORC might create problems. I ran into an exception when I tried to reorder columns.
ALTER TABLE test_orc CHANGE third_column third_column float AFTER first_column;
The exception is: FAILED: Execution Error, return code 1 from org.apache.hadoop.hive.ql.exec.DDLTask. Reordering columns is not supported for table default.test_orc. SerDe may be incompatible.