So, the bottom line is that by continuing to use Office 2011, you have an ever-increasing security risk to you, your computer and your data. And Microsoft Office itself is an attack vector for the bad guys – they can create malicious files that can crash your Office software and then run code on your computer which has the potential to take it over or install very bad things on it.
You may shrug your shoulders and (falsely) think “Hey, Macs don’t get viruses and are therefore secure, so what?” This is not true – Macs are not secure there still isn’t a Mac “virus”, but there are many other forms of attack. Office 2011 will become insecure as Microsoft no longer provides important security updates for the suite. In fact, it’ll probably continue working for a while into the future. Microsoft Office 2011 isn’t going to stop working overnight.
So, if you’re still running Office 2011 you probably should be asking yourself the question, “What should I do?”. That means no updates or bug fixes, and if anything goes wrong or stops working in Word, Excel, Powerpoint, or Outlook, you’re on your own. Microsoft is no longer offering any support for Office for Mac 2011.