When running multiple versions of Office on a PC, you must always do the installations from oldest to latest, in order. Although most apps can co-exist, only one version of Outlokk can be installed & run at any time (when you install a later version, the earlier one will be uninstalled and the user files transferred).

At this stage, I'd suggest uninstalling both Office versions (2003 first), then reinstalling both (2003 first). Your user files & settings should survive the process and function correctly afterwards. Nevertheless, you should always make backups before making significant system changes.

A System Restore should reinstate your system to its pre-2003 state, but you'd still need to uninstall 2007 before installing 2003.

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Cheers,
Paul Edstein
[Fmr MS MVP - Word]