Here's the MSKB article about the Word issue. They don't mention in their solution that they are having you delete all your toolbar settings, but that shouldn't matter, right?

Also, there is no corresponding key for Excel, so the issue isn't the same, or at least the solution isn't.

The symptoms do make for a great read...
• The mouse does not work when you use Word 2007.
• You cannot open a Word document from the Search window in Windows Vista.
• You cannot open a Word document from Windows Desktop Search.
• Word crashes when you try to start or to exit Word.
• Word stops responding when you open the Open dialog box.
• Word stops responding when you save a document.
• Word stops responding when you close a document.