Sub Demo()
Application.ScreenUpdating = False
With ActiveDocument.Range
  With .Find
    .ClearFormatting
    .Replacement.ClearFormatting
    .Text = "<[A-Za-z]{1,7}>"
    .Replacement.Text = ""
    .Forward = True
    .Wrap = wdFindStop
    .Format = False
    .MatchWildcards = True
    .Execute
  End With
  Do While .Find.Found
    If .End = ActiveDocument.Range.End Then Exit Sub
    If .Words.Last.Next.Information(wdVerticalPositionRelativeToPage) > _
      .Information(wdVerticalPositionRelativeToPage) Then .InsertBefore Chr(11)
    .Collapse wdCollapseEnd
    .Find.Execute
  Loop
End With
Application.ScreenUpdating = True
End Sub