IMHO you're "blaming" the incorrect source of your issue. You have Lion, which I'm so happy to be rid of, and I believe Lion's "Resume" could be the source of your grief. For me and my small business, Lion was notoriously nasty with permissions - settings would be re-enabled, file ownership would be forgotten...
Pause while I get a stiff drink...
Better now. I had exactly this issue with Lion so many times I considered switching to Windows or Linux. I discovered that disabling "Resume" worked wonders - quit Word, navigate to System Preferences>General, and uncheck the "Restore windows when quitting and re-opening apps" checkbox. This disables Resume for all applications. Then hold your breath, get a drink, then restart Word. Fingers crossed.
Word 2011 was/is a Cocoa/Carbon hybrid. I had problems with running Office apps in Rosetta as well.
If that isn't it - it could be that you've corrupted your Normal Template - also a recurring issue with Lion and permissions/ownership, so consider quitting Word, deleting the Normal template, and restarting Word.
Moving to ML and now Mavericks, I have no more problems like this. The best location to pose this questions is MS's own forums IMO. Good luck.