Had the same issue with the 12.3.0 updater, just deploying the .mpkg as delivered by Microsoft, even if I tweak the permissions of the .mpkg before copying it into the JSS via Casper Admin, it mangles the permissions on the installed apps following the update, and my users are unable to open the apps (bounce once->quit).
I have to run the Unix command 'chmod -R 775 /Applications/Microsoft Office 2008/' after deploying/installing the .mpkg to fix the problem.
I have cursed Microsoft many times today...
--Robert