I clicked on Microsoft office 2007 Home & student edition. It displayed "The version of this file is not compatible with the version you're running (Windows 7 premium). Check your computer's system information to see whether you need an x86(32-bit) or x64(64-bit) version of the program, then contact the software publisher".
I checked the version and it was 32 bit (under Program X86). The problem was the application(Microsoft word 2007) worked last night, until the windows update 7 has caused the application to become incompatible. Is there a way to correct the error?
Have you tried right clicking on the icon and running it as an administrator; and if that doesn't work. Try right clicking on it, select properties and then look for the tab labled "compatibility"
Then check the box that says "Run this program in compatibility mode for:" and select Windows XP or vista (or whatever go through them all of you need to) then click ok and try running the program as an admin like I said above.