Had InverseSeries[] not been a built-in function, one option might be to invert the Carleman matrix corresponding to the function:
CarlemanMatrix[f_, {x_, x0_, {m_Integer, n_Integer}}] :=
Prepend[Table[
If[k == 0, Function[x, f][x0]^j,
BellY[Table[{FactorialPower[j, i]
Which[#2 == 0, 1, #1 == 0, 0, True, #1^#2] &[Function[x, f][x0], j - i],
Derivative[i][Function[x, f]][x0]}, {i, k}]]/k!],
{j, m}, {k, 0, n}], UnitVector[n + 1, 1]]
CarlemanMatrix[f_, {x_, x0_, m_Integer}] := CarlemanMatrix[f, {x, x0, {m, m}}]
Here's how to apply this to your example:
coeffs = Inverse[CarlemanMatrix[ArcTan[Log[1 + x]/(1 + x)], {x, 0, 7}]][[2]]
{0, 1, 3/2, 3, 149/24, 68/5, 1481/48, 3241/45}
Normal[InverseSeries[Series[ArcTan[Log[1 + x]/(1 + x)], {x, 0, 7}]]]
x + (3*x^2)/2 + 3*x^3 + (149*x^4)/24 + (68*x^5)/5 + (1481*x^6)/48 + (3241*x^7)/45
There are other, likely more efficient methods for generating the coefficients of the inverse series (like the one I presented here), but the Carleman approach offers flexibility, in that appropriate powers of the matrix give the coefficients of the corresponding iterate; e.g. the square of the Carleman matrix for $f(x)$ gives the coefficients of $f(f(x))$, and as you have seen here, inverting the Carleman matrix for $f(x)$ yields coefficients for $f^{(-1)}(x)$.
Series[InverseFunction[ArcTan[Log[1 + #]/(1 + #)] &][x], {x,0,3}]approach does not work. – Simon Jan 27 '12 at 19:09