Microsoft yesterday released three security bulletins on its regular monthly schedule. These patches address eleven different vulnerabilities in Microsoft Office and Forefront Unified Access Gateway. One of the Office patches is rated Critical severity, and the other rated Important; the Forefront patch is rated Important. One of the Office patches also affects the recently released Office 2011 for Mac. Further details and download links are in the Security Bulletin Summary.
If you use Office, you should apply these patches as soon as you conveniently can. One of the vulnerabilities addressed by the Critical patch is in the Outlook E-mail client; a target machine can be attacked successfully if a malicious message is visible in the preview pane.
As usual, the folks at the SANS Internet Storm Center have released their summary, and risk ratings, of these patches.