(imported comment written by SLB)
I am also seeing Office 2007 SP1 system report as relevant for this patch. If you try to install the patch, it fails saying that required product is not installed.
The relevance to check for Office 2007 SP2 reports True when SP1 is installed. It doesn’t report True with no Service Pakc installed
Q: (exists key whose ((it = “12” AND it >= “12.0.6213.1000”) of (value “DisplayVersion” of it as string as version) AND exists value “DisplayName” of it AND (((length of it = 38) AND (it contains “000000FF1CE%7D”) AND ((it = “0000” OR (hexadecimal integer it = 1033)) of last 4 of (first 19 of it)) AND ((it = “00A4” OR it = “0026” OR it = “001C” OR it = “0015” OR it = “0013” OR it = “0030” OR it = “0029” OR it = “0016” OR it = “00BA” OR it = “002F” OR it = “0044” OR it = “00BC” OR it = “00A9” OR it = “00A3” OR it = “00A1” OR it = “001A” OR it = “00E0” OR it = “0033” OR it = “0037” OR it = “0018” OR it = “003B” OR it = “003A” OR it = “0035” OR it = “0031” OR it = “0011” OR it = “0014” OR it = “0019” OR it = “0017” OR it = “00CA” OR it = “0012” OR it = “002E” OR it = “0051” OR it = “0053” OR it = “002B” OR it = “001B”) of last 4 of (first 14 of it))) of (name of it))) of key “HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Windows\CurrentVersion\Uninstall” of registry)
A: True
T: 26.389 ms
I: singular boolean
These are the key names that cause the relevance to come back as True.
Q: names of keys whose ((it = “12” AND it >= “12.0.6213.1000”) of (value “DisplayVersion” of it as string as version) AND exists value “DisplayName” of it AND (((length of it = 38) AND (it contains “000000FF1CE%7D”) AND ((it = “0000” OR (hexadecimal integer it = 1033)) of last 4 of (first 19 of it)) AND ((it = “00A4” OR it = “0026” OR it = “001C” OR it = “0015” OR it = “0013” OR it = “0030” OR it = “0029” OR it = “0016” OR it = “00BA” OR it = “002F” OR it = “0044” OR it = “00BC” OR it = “00A9” OR it = “00A3” OR it = “00A1” OR it = “001A” OR it = “00E0” OR it = “0033” OR it = “0037” OR it = “0018” OR it = “003B” OR it = “003A” OR it = “0035” OR it = “0031” OR it = “0011” OR it = “0014” OR it = “0019” OR it = “0017” OR it = “00CA” OR it = “0012” OR it = “002E” OR it = “0051” OR it = “0053” OR it = “002B” OR it = “001B”) of last 4 of (first 14 of it))) of (name of it))) of key “HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Windows\CurrentVersion\Uninstall” of registry
A: {90120000-0011-0000-0000-0000000FF1CE}
A: {90120000-0015-0409-0000-0000000FF1CE}
A: {90120000-0016-0409-0000-0000000FF1CE}
A: {90120000-0018-0409-0000-0000000FF1CE}
A: {90120000-0019-0409-0000-0000000FF1CE}
A: {90120000-001A-0409-0000-0000000FF1CE}
A: {90120000-001B-0409-0000-0000000FF1CE}
A: {90120000-0044-0409-0000-0000000FF1CE}
T: 24.985 ms
I: plural string
Here is the values of the first key
{90120000-0011-0000-0000-0000000FF1CE}
DisplayName = Microsoft Office Professional Plus 2007
DisplayVersion = 12.0.6215.1000
HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Windows\CurrentVersion\Uninstall{90120000-0011-0000-0000-0000000FF1CE}PROPLUS{BEE75E01-DD3F-4D5F-B96C-609E6538D419} shows that the version of Office 2007 is SP1.
DisplayName = 2007 Microsoft Office Suite Service Pack 1 (SP1)
Maybe the relevance needs to check for SP2 or later (ie >= 12.0.6425.1000). Based on http://support.microsoft.com/kb/928116 maybe the info Microsoft provides isn’t 100% accurate. 
Regs
Rob