Setup will immediately ask you to insert a license disk which was not included with this warez release, and normally won't allow you to continue without one. You can bypass this by copying the installation files to the hard disk, and finding the following line at the start of OFF97PRO.INF (file is read-only, so uncheck that attribute first):

 "2","Microsoft Office 97 Technical Beta License Disk","Office97.tag","."
 
Insert a ; at the start of this line to comment it out and save the file. Then start setup. 

Some non-essentials files like extra cursors have been ripped, so either choose custom setup and uncheck them, or ignore any errors that pop-up.

This version is also timebombed. If you don't set your system date before 24th November 1996, Office programs will complain about it and refuse to start.