Try deleting the com.microsoft.word.plist file from your ~/library/preferences. then restart word
If that doesn't work, I would create a new User in System Preferences and see if Word opens there without problems. If yes, then it's a problem in your User's folder. If not, Try reinstalling the last big combo update from Apple. It's possible that you will have to do an "Archive & Install" to repair your system files.
Let me know the results.
You appear to be offline.
In the mean time I will switch this to a Q&A format question so you can come back to it at any time. I will also be notified when you make a posting.