No conversion should be required under normal circumstances.
The only issue that I have come across is when trying to update links in a
document that was created in Word 2003 that is opened in Word 2007, in which
case, the links get changed and no longer work. That is, they no longer
work whether you are trying to update them with VBA or manually (using F9,
Print Preview, Automatically Update Links on Open, etc)
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Hope this helps.
Please reply to the newsgroup unless you wish to avail yourself of my
services on a paid consulting basis.
Doug Robbins - Word MVP