"Ready For Mountain Lion"

Killian Bell:

Microsoft Office 2011 looks awful on the new MacBook Pro?s Retina display. But unfortunately for its customers, it seems Microsoft has no plans to add high-resolution graphics.

Karen Haslam:

Microsoft’s Office 2011 is now described as “ready for Mountain Lion” but it does not integrate Mountain Lion features, in fact the software doesn’t yet integrate features like Versions and Auto Save that became available a year ago when Lion launched

If you want auto-save or versioning (which are awesome - I use them in Pages all the time) you're out of luck. But there's a simple 14-Step Process to semi-enable retina-ish graphics in the rest of the suite. Seems to have mixed results based on the comments at Cult of Mac.