Microsoft Office 2011 no longer opens because "there is a problem" after updating mountain lion when the app store said there was an update available this morning. Reinstalling did not work. What's the problem?

Microsoft Office 2011 no longer opens because "there is a problem" after updating mountain lion when the app store said there was an update available this morning. Reinstalling did not work. What's the problem?

Has your problem been solved by the updates??
Have a similar problem. This MacBook opened all MS Office programs in Dec2012 but no longer does in Feb2013. Went to Microsoft/mac/downloads but none of the three updates would run citing a problem "version of software needed to run this update was not found on this volume".
MacBook: 7.1, Intel Core 2 Duo, 2.4 GHz
Microsoft Office 2011:  version 14.2.3
Mountain Lion: 10.8.2 (12C60)

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