Yes. That’s the error I was getting after re-installing Microsoft Office 2008 for Mac on my MacBook Pro following my hard disk’s decision to make a transition to the afterlife.
Anyways, after some googling and trying a few things, I found that this did the trick for me:
cd ~/Documents/Microsoft\ User\ Data/ rm -Rf Office\ 2008\ Identities/
Hopefully this can help you if you need it.