Microsoft Office’s latest version for Mac i.e. Office for Mac 2011 will have Lion features like auto-saving, versioning and full-screen support, according to the blog Office for Mac. While they have revealed these features what they haven't revealed is a confirmed date for the release of this version.
Additionally, they have reiterated that the Office For Mac 2004 will be rendered useless for Lion, owing to the absence of the Rosetta code needed for the compatibility.
Office for Mac 2011: Worth a try?
Pat Fox, the Senior Director of Product Management for Office for Mac in the official blogpost also confirmed that the team is “working hard with Apple to enable versioning, auto save, and full-screen for Office for Mac 2011.” The auto-save function when used with versioning helps users to browse through the previous versions of a file, and also recover it, if need be. The full-screen support is among the features in the expected update, too.
On the blogpost Fox also says that that the team's fixed the issue with Lion, which pertained to the crashing of applications when users tried to send instant messages, or tried making audio or video calls.