Hi
this can be caused by a couple of things, the 2 most common are either a faulty install of office or a faulty install of NAV
Try go back into the installation of office and do a full install, that will make sure nothing is left out of the installation that was needed (To be thorough you should uninstall office then do the installation from scratch)
If that does not resolve the problem try a uninstall and re-install of NAV,
Let me know if that does not resolve the issue and i will try and help further
Cheers
Nev