Error message when you try to edit an embedded object in a 2007 Office file in Excel 2003, in PowerPoint 2003, or in Word 2003: "The server application, source file, or item cannot be found"

Consider the following scenario. You install the Microsoft Office Compatibility Pack for Word, Excel, and PowerPoint 2007 File Formats on a computer that is running one of the programs that are listed in the "Applies to" section. You open a Microsoft Office Excel 2007 workbook, a Microsoft Office PowerPoint 2007 presentation, or a Microsoft Office Word 2007 document that contains an embedded Excel object, an embedded PowerPoint object, or an embedded Word object. After the file opens in the appropriate Microsoft Office 2003 program, you double-click the embedded object to edit it. In this scenario, the embedded object does not open. Additionally, you receive the following error message: