The repair does not recreate shortcuts. Also you didn't share what is in that shortcut. It may be invalid.
What is in the shortcut properties for the run command?
What happens if you click Start, Run, Winword and press Ok?
Have just installed XP SP2. Now Office 2000 (SP3) won't open correctly. Word, Excel, Frontpage and Access all open and display a message saying Couldn't open file d:\Documents & Settings\(My user name)\Office\Office\Excel.exe (or word.exe etc). This is whether you open it from the shortcut or the actual program file in explorer. Actually when you click OK, you can run the program normally - furthermore clicking an actual document file opens the relevant application and the file correctly. So it's annoying but not life threatening.
Outlook is different - it won't from the shortcut or the program file - it just says The Command Line Argument is Invalid. Verify the switch you are using is valid. HOWEVER - it runs correctly from the icon put on the desktop by windows. spooky eh?
Anyone had similar? Any ideas dudes? (Yes have tried Detect and Repair and Reinstall from the Office disk)