Microsoft Outlook 2007 reaches end of life on October 10, 2017 – along with several other Office 2007 products.
Microsoft today is delivering what could be the farewell security patch for this product, unless it works up something else during the second week of October (Patch Tuesday).
Those that are still running this version of Outlook, or continue to run it after the drop-dead expiration should seriously consider installing this security update to ensure the product is at least as secure as it can be.
The update is available through Windows Update and can be found in the Microsoft Update catalog here: http://www.catalog.update.microsoft.com/Search.aspx?q=KB4011110
Additionally, its available as a standalone package here: KB4011110 for the 32-bit version of Outlook 2007