I am running Mountain Lion 10.8.2 on a MBPro. I have upgraded MS Office to 14.2.4 and finally got all Office Apps working except Outlook. It will open, but as soon as it connects to the exchange server it crashes. Error report is:

Error Signature:
Exception: EXC_CRASH (SIGTRAP)
Date/Time: 2012-09-25 19:28:24 +0000
Application Name: Outlook
Application Bundle ID: com.microsoft.Outlook
Application Signature: OPIM
Application Version: 14.2.0.120402
Crashed Module Name: merp
Crashed Module Version: 2.2.4.120824
Crashed Module Offset: 0x00003aa2
Blame Module Name: Microsoft Outlook
Blame Module Version: 14.2.0.120402
Blame Module Offset: 0x0009aea4
Application LCID: 1033
Extra app info: Reg=en Loc=0x0409
Crashed thread: 13

If I turn off wifi and work offline, no crashing. I have rebuilt database and created new identities multiple time to no avail. Problem is obviously between Outlook and Exchange, but what? This is a work issue, so any help is appreciated.