I deleted it from my C7-00 (Belle) and I did not recognize any Problem.
It was very annoing because it always startet when I startet the Phone.
But you can also close it every time using the task manager (push the menue button for a few seconds, then you see als tasks opened and you can close those you do not want do run).
I also find this program very annoying. First, there is nothing that says what this program is or what it's for. Do I need it on my phone? It starts when the phone starts. I have to close it every time I start the phone. VERY annoying. There is no option for not starting the program when the phone starts.
If I don't need it, is it ok just to delete it?
Microsoft Apps are Business apps to be honest, so I don't see why you should keep them, besides, they eat up a whole lot of space, so get rid of them if you aren't using them. And you'll be able to get future updates, with or without installing them.
Only waiting for the MS Office package.....