If you let them launch the real MS Word application, I doubt you can prevent them from saving a copy of the document. So I imagine you'd have more luck if you created an application to display the same text. I don't know how to write the application I'm talking about, so I am only speaking theoretically!
Assuming that they give you the CD back before they try opening the file for the second time, you could, in theory, send them an application that, when launched, displays the text and erases itself from the disk at the same time. (In Unix-like operating systems, you can erase a file that is in use and it will be removed after the last application using it ends or closes the file.) After they quit from the application, the application itself would be gone.
However, it's still possible that they will run the application and notice this side effect before giving you back the CD, in which case they might save another copy of it. Here are two ways to avoid this:
1. Have the application create a Startup Item that will run at the next restart and then delete the application (and the Startup Item). They are less likely to discover this behavior before giving the CD back.
2. Instead of having the application delete itself, have it check for the CD and not run if it is not present. That way, once they give the CD back, the application is still on their hard disk but is useless. Of course, if they figure this out, they might copy the CD!
In all cases, the text should be built into the application, possibly in an encoded way, so that it can't be extracted from the application files directly.
Another method you could use would be to have the program set to expire on a certain date. If the system date was after that date, it would produce a misleading error message instead of displaying the text. That way they wouldn't think to set their clock back.
All of this is probably more trouble (and programming) than you had in mind, right? Overall, I think an easier solution would be web based, where you send them to a URL that displays the text (maybe after a password prompt) and works only once.