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cranioscopical:
Beyond Compare 3.x says it does Word and Excel.

http://www.scootersoftware.com/download.php?zz=kb_moreformats

Darwin:
I used a SUPER expensive program when I was doing my PhD (the academic price for one year was @$100). It worked brilliantly - displayed pdfs, xls, doc, etc with formatting - but I can't remember the name, off-hand. Will check around and post back.

EDIT: as soon as I hit "post" I remembered: Diff Doc.

Darwin:
Cripes! I just dug around to find pricing (it's well hidden) a icense with no upgrade support is $399.95. You have pay $129.95 a year for upgrade protection, so the license and a year's upgrade protection is gong to run you $530 and $130 per year thereafter. I'm in the wrong business...

I can't recommend Diff Doc based on their upgrade policy alone - add in the buy-in price and I'm embarrassed to have mentioned it  :-[

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