ok, so this makes no sense to me. I am doing a deployment of Office 2003 as I write this to over 2000 machines. I have not seen anything like this. the only problem that I have seen is when launching outlook for the first time you get an error when closing down, but that can be ignoried.
Is your machine legit? non pirated? Not the application, but the OS. Also, have you called MS on this? They might be able to provide better info that even we can
Best of luck to you...