http://support.microsoft.com/kb/2830069

1. Install OffVirt

Office2010AppVKit-x64.exe
http://www.microsoft.com/en-us/download/details.aspx?id=10386

msiexec /i OffVirt.msi ADDLOCAL=OSpp,OSpp_Core,OSppWoW64 PROPLUS=1 VISIOPREM=1 PIDKEYS=CK796-QYJ67-JVKWX-QJ9GD-W3CKX USEROPERATIONS=1

2. Download and Extract the Office 2010 sequencing kit for App-V

Microsoft Office 2010 Sequencing Kit for Microsoft Application Virtualization 5.0.EXE
http://www.microsoft.com/en-us/download/details.aspx?id=38399

3. Start the App-V Sequencer

Click on Tools -> Options…

Open the “Exclusion Items” tab and add the following:

[{Common AppData}]\Microsoft\OfficeSoftwareProtectionPlatform

[{Common AppData}]\Microsoft\Windows

With Mapping Type = “VFS”