When I tried to install Visual Studio Tools for Office, I got the error message "setup cannot detect the required version of Visual Studio.NET" during setup. I was pretty sure that I was running the correct version of Visual Studio, so I was happy to find a solution through a little Googling:
The registry is apparently not totally up-to-date on my machine. Maybe VS.NET went wrong during setup, but the fix is this key:
[HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\VisualStudio\7.1\Setup\VS\BuildNumber]
"1033"="7.1.3088"