SYMPTOMS
Outlook fails to start with a message: "This application has failed to start because MSVCR80.dll was not found"

CAUSE:
This problem occurs on the beta version of Outlook 2007, and also if the trial version of Outlook 2007 was used prior to purchasing it.  It is caused by the add-in installation overwriting the outlook manifest file.

RESOLUTION:
Uninstall the add-in via Control Panel…Add/Remove Program Programs…Remove
Find the manifest file in your Program Files\Microsoft Office folders
Delete it 
Perform a repair on the Outlook installation (this step restores the manifest file)
Download the newest version of the add-in (which no longer overwrite the mainfest file)
Install the add-in