Yesterday I reinstalled Office 365. Since then, digitally signed macros in the applications / locations below are disabled, despite the publisher being in the Trusted Publishers list. (For avoidance of doubt, this is a valid, current, COMODO certificate, not a self-signed one).

• Outlook - C:\Users\username\AppData\Roaming\Microsoft\Outlook\VbaProject.OTM
• Word - the startup folder defined in Options > Advanced > File Locations

Trust Center macro options are:

• Outlook - Notifications for digitally signed macros, all other macros disabled is checked
• Outlook - Apply macro security settings to installed add-ins - makes no difference whether checked or not
• Word - disable all macros except digitally signed macros is checked

In both cases, setting macro securirty to Enable All Macros makes everything work. Needless to say, I do not intend to run with that for any longer than to check it.

As far as Word is concerned, if I add the Startup folder to the Trusted Locations list, all is OK. There is no equivalent in Outlook.