Is okay/OK the same word in Spanish & English?
On the telemundo show 12 Corazones the host says okay a lot. I can't tell if it's the same in both languages or if she just lets an English word slip out every now & then. I'm pretty sure I've heard her say other English words so it's hard to tell.

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We usually use "ok" but not everybody use this word. In spanish we say: "vale" o "de acuerdo".

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Yes, we use "OK" a lot, but of course is not a spanish word... the spanish translation would be "está bien" or "me parece bien" (in Argentina we use: "dale, no hay problema")
Hope you find my answer useful!

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OK: will have the same use that is all right and others.  We have a lot of words stolen to other coutrys. It could be that you were listen somes.

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You're right, OK has the same meaning in Spanish. The only difference I can notice is that we usually use that word to start speaking or just to say sí.

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Young people uses OK in Spain when speaking. I would say that older people use it when speaking in a very informal way or in a funny way.

Most of the Spanish people use OK when writing messages.