Microsoft's latest update for Office 2004 for Mac, Microsoft Office 2004 11.5.7, addresses a handful of significant security vulnerabilities surrounding specially crafted Office files that could enable an attacker to view, change, or delete data by executing remote code. The update addresses those issues by altering the way files are opened and parsed. It is rated Important for Microsoft Office 2004 for Mac and requires that you've previously installed the Microsoft Office 2004 for Mac 11.5.6 Update. The update is available from Microsoft's Web site and via the Office 2004 version of Microsoft AutoUpdate. (Free, 9.4 MB)
Copy Excel Selection as a Picture
Want to show someone a chunk of an Excel spreadsheet via email or iChat? You could take a screenshot, but if you want to show just a portion of the Excel window and you don't use a utility like Snapz Pro, you can do this right from within Excel 2008. Make a selection, hold down the Shift key, and choose Copy Picture from the Edit menu. You can select whether the selection will be rendered as though it was shown on screen or as though it was printed. Then just switch to your desired destination and paste.
Microsoft Office 2004 11.5.7
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Realistically, your exposure is pretty low, so I wouldn't stress about this too much, and would recommend just being a little more cautious about opening files from dubious sources.