The following workaround will work with Safari or Firefox:
May not correctly open the file in the rich client application.Equation editor may not function correctly.Reference tools may have redraw problems and links may not work.You may be unable to import messages from Lion Mail.You may be prompted to save your presentations when switching windows.Switching out of or quitting Slide Show in full-screen mode may result in inconsistent window behavior.
However, it will not work on other language versions of Excel 2011 on Lion. These issues will likely only be encountered in specific situations or configurations: Here is a list of other known issues that Microsoft is currently investigating. Because Lion no longer supports Rosetta, applications that relied on it will no longer function under the new MacOS. Previous MacOS versions supported Rosetta, an Apple Mac OSX bridge technology that enabled applications such as Office for Mac 2004 to run on the latest chip architecture for Mac.