Microsoft Office 2008 Issue acknowledge, Fix Available
The Mac BU at Microsoft has acknowledged a security issue, and has released a fix, and plans to release an update.
The problem is that the Microsoft Office Installer changes permissions for the Microsoft Office install and the Automator Library folder to user 502, or the second account created on a given Mac. It’s not a huge problem, because there is no threat if you only have one user, and if you have more than one user, all that they can do is mess with your Office install. They cannot really do anything malicious to your Mac.
Microsoft Office 2008 to release on January 15th

Pat O, Director of Marketing and Planning for Microsoft’s Mac Business Unit announced via Microsoft’s Mac Mojo blog that Microsoft Office 2008 will “launch” on January 15th.
On January 14th, many MacBU team members will be available at Macworld for the “A Day at the Office” conference, “a day-long conference at the Moscone [...] dedicated to extensive user training on the new Office 2008 for Mac.“ Microsoft will apparently have a large booth with product demos, and theater shows every half-hour.
Microsoft Office for Mac 2008 is a large improvement for Office. It introduces a much more native interface, like that of Apple’s iWork (make of that what you will…), finally introduces native Intel code, so it should run far faster than Office 2004 on Intel Macs. There are still a few missing features that Mac users want, such as improved Exchange support, but overall Office 2008 finally seems to make Office a real Mac application.
Read [Mac Mojo]
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