It sounds like the path from your shortcut got messed up.
First - browse to your installation folder and verify if the .exe exists.
Try starting it from there. My location is here:
D:\Applications\msoffice\OFFICE11\Excel.exe
Assuming you can start excel manaually - Right click on the icon you click
on to start Excel and select properties from the menu. Inspect the path on
the General tab and ensure it is the same as where you installed it.
My system is controlled via a sys admin so it does not look like I can
change the properties of mine. On yours - you should be able to change the
Target location on the shortcut tab.
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