More specifically, as noted on the Microsoft web page: "The Memo-Resume Wizard Patch fixes a problem discovered by an early user of Office 98 Macintosh Edition in Microsoft Visual Basic® for Applications, which can affect Office 98 or other applications that use compiled VBA code (such as custom Office applications developed by professional programmers). To date, only some wizards in Microsoft Word 98 are known to be affected: the Memo and Resume Wizards, and the Newsletter, Calendar, and Agenda Wizards included in the Value Pack. No wizards in Microsoft Excel or PowerPoint are affected, and no recorded macros in any Office 98 applications should be affected (unless they use compiled code, which most do not)."
Note: you must run at least one Office app after a new install before applying the patch. (Thanks, Mark Siple.)