I'm feeling rather incontinent about the inclusion of that one. As a linguist you should as well.
Of course not, dear angus. As a linguist, if it the word that is in general circulation, it is of course the "right" one!
The word is of course in general circulation--I encountered it first as a proper noun and the name of a company my father worked for in the mid 70s--but it is in circulation as referring a group of archipelagos and island nations. The etymology of continent suggests Latin roots:
con (with) and
ten (hold). Continent therefore implies "held together." What holds Oceania together? The specific modern definitions of continent are (1) able to control one's urination and defecation, (2) exercising self-restraint from sexual activity, (3) one of Earth's large land masses, and (4) that part of the Earth's crust that rises above the oceans and is composed of sialic rocks. Under which of these four definitions would Oceania be a legitimate continent? I guess the fourth one. Fair enough. Still, it seems odd to throw the word continent about like that since if it refers to collections of small islands it will have lost the main part of its original meaning.