Recently I had to resolve this issue:
Office 2007 Crash
wwlib.dll
code error: c0000005
OS: Windows 7
It started with Word and then with Outlook. I found the solution here:
http://www.edbott.com/weblog/?p=1771
KB Article: http://support.microsoft.com/default.aspx?scid=kb;en-us;940791
If you are lazy to read, the solution is removing this registry entry:
HKEY_CURRENT_USER\Software\Microsoft\Office\12.0\Word\Data