Microsoft has released a 14.3.0 update to Mac Office 2011, which fixes numerous PowerPoint issues, and addresses an Outlook calendaring problem where meeting times can be an hour off during certain times of the year.

Apparently this Office 2011 14.3.0 update included a licensing bug, causing Office apps to report that they are unlicensed (however they continued working). Microsoft promptly released a 14.3.1 update to correct this issue.