Microsoft Office 2007 Ultimate Edition with SP1 V12.0.6213.1000-NoPE | 806Mb | English

In Windows Explorer, brose to the following folder:
C:\Program Files\Common Files\Microsoft Shared\OFFICE12\Office Setup Controller\Proof.en\

Right click on Proof.XML file, select “Open With…” in the right click menu.
In the “Open With” window, select Notepad to be used to open the XML file. In Vista, if you can’t see the Notepad option, simply double click the “Other Programs” to unhide it.
Scroll down to the bottom of the Proof.XML to locate the following lines:
</Feature> <Feature Id=”SetupXmlFiles” Cost=”1248″>
<OptionRef Id=”AlwaysInstalled”/>
</Feature>

Change the AlwaysInsalled to neverInstalled so that the line looks like following:
<OptionRef Id=”neverInstalled”/>

Save the Proof.xml file. In Windows Vista, you may need to take ownership and grant full access permission to yourself before able to modify the file.
You can now launch Microsoft Office 2007 application such as Word, Excel, Powerpoint, Outlook and etc without prompting for activation.

The other way is..
you will find NoPe folder in this Archive and the following steps:
1. install office 2007 ultimate - DONT USE ANY SERIAL
2. copy mso.dll to %programfiles%\Common Files\Microsoft Shared\OFFICE12 than overwrite.
3. double click the reg.reg than press yes
4. open one of office application. activation dialog will appear.
5. choose phone activation.
6. use any sn for Confirmation Code and press next.
7. enjoy