For a much more efficient macro, try:
Code:
Sub Demo()
Application.ScreenUpdating = False
Dim Rng As Range, FtNt As Footnote
With ActiveDocument.Range
With .Find
.ClearFormatting
.Replacement.ClearFormatting
.Text = ""
.Replacement.Text = ""
.Forward = True
.Format = True
.Font.ColorIndex = wdGreen
.Wrap = wdFindStop
.MatchWildcards = True
.Execute
End With
Do While .Find.Found
Set Rng = .Duplicate
.Collapse wdCollapseStart
Set FtNt = .Footnotes.Add(.Duplicate)
Rng.Start = FtNt.Reference.End
FtNt.Range.FormattedText = Rng.FormattedText
Rng.Delete
If .End = ActiveDocument.Range.End Then Exit Sub
.Collapse wdCollapseEnd
.Find.Execute
Loop
End With
Application.ScreenUpdating = True
End Sub