The vulnerability sets folders permissions incorrencty in certain Microsoft Office for Mac installations.
Improvements that are included in the update
The Office for Mac 2011 14.2.3 Update also includes the following improvements:
This update fixes an issue where some SkyDrive folders in Micorosft Document Connection are displayed as zero-byte files instead of folders. This update provides critical updates for connection reliability with SkyDrive.
It also provides detailed updates for Excel, Outlook and Word.
Microsoft Office users can access the update by opening Microsoft AutoUpdate and clicking Check For Updates. Or by opening any office program and choosing Help > Check For Updates.