Yes, it appears to have picked up a corruption of some sort. If you change to Draft View you can see the content and every line of text appears to be wanting to be on a new page. I can't explain what exactly the corruption is but there is a relatively easy fix.
An easy fix on my machine is to do a SaveAs to RTF format which appears to clear the issue. You can then do another SaveAs to go back to docx and it now appears fine.
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Andrew Lockton
Chrysalis Design, Melbourne Australia
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