Ha. I wish software was that much like life, then you could reason with it! The software company that I work for creates software for the Windows platform and at times our stuff conflicts with the Microsoft programs. I don't pretend to understand the dynamic of it but reinstalling Office after it has been jerking me around fixes everything.
As far as versions are concerned we were using Office 97 on Win 98 and we were getting problems left, right and centre. It worked for a while, then *poof* without any alteration to the O/S or any signifigant change to the spec of the PC it just started hanging up, loosing fonts, slowing the PC down, any number of access violations and violations of system integrity. Reinstalling it always worked. We have moved to Office 2000 and since then there have been no major issues.
I agree that reinstalling will only copy over a file if the file is newer than the one on the hard drive, but it will replace files that may have been moved into different directories or out and out deleted. Now you can probably argue "Why on Earth would a file just move itself!" and if you have used Windows for any length of time you should know that *anything* is possible.
Peter is right about that message in the task manager. Perhaps you should wait, go and make some coffee, have a chat over the water cooler and argue about the validity of golf-course business deals then come back and see if it is still not responding.
The obvious answer to this is to try it out. If it works, it works. If not, then try the other method. The only thing you lose is a bit of time.
Terridian