Absolutely all of the latest versions of Microsoft Word and some versions of Internet Explorer maintain critical vulnerabilities enabling remote code execution. Today, Microsoft releases two critical patches to close multiple vulnerabilities with each. Two important updates are released to address a batch file handling issue and another RCE hole in Microsoft Publisher. All of these are addressed with MS14-017 through MS14-020.
Both end users of Microsoft Office software and system administrators of SharePoint portals, Microsoft Office Web Apps servers, and even Apple Office for Mac users need to download and install these patches: MS14-017 and MS14-018.
These sorts of Office vulnerabilities are commonly and frequently the delivery vector for targeted attack spearphishing campaigns. Red October, NetTraveler, and Icefog, all abused Office vulnerabilities in their spearphishing campaigns. There are many more of these groups, and they will continue to actively pursue potential victims, in part using exploits for Office applications.
On the brighter side, Microsoft is doing a fantastic job of consistent response and update delivery. Accordingly, their software, while it continues to be heavily used, does not continue to remain even in the top 10 vulnerable software applications that we see. Those spots still go to Oracle's Java, Adobe's Flash and Photoshop, Apple's Quicktime, WinRAR, WinAmp and other media players, and other apps that are frequently targeted by commodity exploit packs.
The Internet Explorer vulnerabilities do not hit all of the Microsoft platforms in the same manner as the Word vuln this month, although critical RCE is enabled by every version of unpatched Internet Explorer code on at least one version of every Microsoft Windows platform. So, Internet Explorer 6, which no one should be using, maintains critical RCE on the now unsupported Windows XP SP3 and XP Pro x64 SP2. IE 7, 8, 9 all maintain critical RCE as well. Internet Explorer 10 is not affected. IE 11 on Windows 7 and Windows 8.1 maintains critical RCE, but moderate severity on Windows Server 2008 and Windows 2012 R2. The Windows Update software will smoothly make sense of all of the versioning and patch needs for you when run. Nonetheless, there are serious issues here that exploit packs likely will attack with fresh exploit code.