Hi,
Unfortunately, I don't think it will since replication was removed starting with Access 2010. I don't think O365 will be any different.
However, all may not be lost. If you convert your tables into SharePoint Lists, you might still be able to take advantage of "offline" mode where users can continue to work while not connected to O365 and then Access will automatically sync the
data once connection is re-established. You'll have to experiment if this will be enough for your situation.
Hope it helps...