"This update fixes critical issues and also helps to improve security. It includes fixes for vulnerabilities that an attacker can use to overwrite the contents of your computer’s memory with malicious code."
The update is recomended for all users of Office 2011, which is the most recently version of the productivity suite for OS X systems.
Reference:
Microsoft releases Office for Mac 2011 patch with critical bug fixes and security updates
http://9to5mac.com/2014/10/14/microsoft-releases-office-for-mac-2011-patch-with-critical-bug-fixes-and-security-updates/
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