After trying unsuccessfully to log in to Office Live from within Excel, the application crashed. (The add-in never accepts my password even though I know it is correct.)

Now when I try to start Excel it immediately crashes on startup. Here are some of the messages from Event Viewer:

ID: 1, Application Name: Microsoft Office Excel, Application Version: 12.0.6504.5001, Microsoft Office Version: 12.0.6425.1000. This session lasted 499 seconds with 0 seconds of active time.  This session ended with a crash.

Faulting application EXCEL.EXE, version 12.0.6504.5001, time stamp 0x49fea693, faulting module mso.dll, version 12.0.6425.1000, time stamp 0x49d65443, exception code 0xc0000005, fault offset 0x00039eb0, process id 0x1d0, application start time 0x01ca05c66636ff56.

Faulting application EXCEL.EXE, version 12.0.6504.5001, time stamp 0x49fea693, faulting module ntdll.dll, version 6.0.6002.18005, time stamp 0x49e03824, exception code 0xc0000005, fault offset 0x0002ac0f, process id 0x62c, application start time 0x01ca05c79352e3e6.

Faulting application EXCEL.EXE, version 12.0.6504.5001, time stamp 0x49fea693, faulting module ole32.dll, version 6.0.6002.18005, time stamp 0x49e037d7, exception code 0xc0000005, fault offset 0x00096f83, process id 0x1bc0, application start time 0x01ca05c805d8ab76.

I tried uninstalling the OL add-in 1.4, but Excel still crashes. Word and other apps still work fine, however.

I have a similar issue on two of my machines (Vista Ultimate 32 and XP SP3).  Both machines are running Office 2007 SP2 with all the latest patches.  After I installed the Office Live 1.4 Add On, Word/Excel crash instantly when they open.  If I uninstall the Office Live 1.4 Add On, the problem goes away.  If I reinstall it, it comes back.  Here's the crash info from my application log:

Event Type: Error
Event Source: Microsoft Office 12
Event Category: None
Event ID: 1000
Date:  7/17/2009
Time:  9:07:39 AM
User:  N/A
Computer: PC3
Description:
Faulting application winword.exe, version 12.0.6504.5000, stamp 49e7f5b6, faulting module olconnector.dll, version 2.0.3009.0, stamp 4a2e1608, debug? 0, fault address 0x00011561.

For more information, see Help and Support Center at http://go.microsoft.com/fwlink/events.asp.
Data:
0000: 41 00 70 00 70 00 6c 00   A.p.p.l.
0008: 69 00 63 00 61 00 74 00   i.c.a.t.
0010: 69 00 6f 00 6e 00 20 00   i.o.n. .
0018: 46 00 61 00 69 00 6c 00   F.a.i.l.
0020: 75 00 72 00 65 00 20 00   u.r.e. .
0028: 20 00 77 00 69 00 6e 00    .w.i.n.
0030: 77 00 6f 00 72 00 64 00   w.o.r.d.
0038: 2e 00 65 00 78 00 65 00   ..e.x.e.
0040: 20 00 31 00 32 00 2e 00    .1.2...
0048: 30 00 2e 00 36 00 35 00   0...6.5.
0050: 30 00 34 00 2e 00 35 00   0.4...5.
0058: 30 00 30 00 30 00 20 00   0.0.0. .
0060: 34 00 39 00 65 00 37 00   4.9.e.7.
0068: 66 00 35 00 62 00 36 00   f.5.b.6.
0070: 20 00 69 00 6e 00 20 00    .i.n. .
0078: 6f 00 6c 00 63 00 6f 00   o.l.c.o.
0080: 6e 00 6e 00 65 00 63 00   n.n.e.c.
0088: 74 00 6f 00 72 00 2e 00   t.o.r...
0090: 64 00 6c 00 6c 00 20 00   d.l.l. .
0098: 32 00 2e 00 30 00 2e 00   2...0...
00a0: 33 00 30 00 30 00 39 00   3.0.0.9.
00a8: 2e 00 30 00 20 00 34 00   ..0. .4.
00b0: 61 00 32 00 65 00 31 00   a.2.e.1.
00b8: 36 00 30 00 38 00 20 00   6.0.8. .
00c0: 66 00 44 00 65 00 62 00   f.D.e.b.
00c8: 75 00 67 00 20 00 30 00   u.g. .0.
00d0: 20 00 61 00 74 00 20 00    .a.t. .
00d8: 6f 00 66 00 66 00 73 00   o.f.f.s.
00e0: 65 00 74 00 20 00 30 00   e.t. .0.
00e8: 30 00 30 00 31 00 31 00   0.0.1.1.
00f0: 35 00 36 00 31 00 0d 00   5.6.1...
00f8: 0a 00                     ..     

I can't open Excel 2007 because of olconnector.dll crashing. I get to a point where I can send an error to Microsoft and recover the app after that, but as soon as Excel comes up again, it prompts me to send that same error to Microsoft one more time > infinite loop.

Error Signature:

AppName: excel.exe      AppVer: 12.0.6504.5001     AppStamp:49fea693
ModName: olconnector.dll      ModVer: 2.0.3009.0      ModStamp:4a2e1608
fDebug: 0       Offset: 00011561

Don't waste your time with Office Diagnostics - I did, and Excel keeps crashing even faster now. 

Uninstalling Office Live Addin resolved the issue.

As per DominikRas (thanks). Excel 2007 would open OK from 2 userids on this XP Prof SP3 machine which are registered for Office Live, but crashed on attempting to open Excel 2007 from Administrator account (which is not registered on Office Live). Removed Office Live Add-in 1.4; this seems to have stopped the crashing.