Well installing Office2K on Win 95 ... is that even possible? hehe anyway, it would seem your links to the Office programs are invalid. Try going in through Win Explorer and seeking out the EXEs for each of the respective programs and see if they work from there. If so, easy enough to fix the links in the Start menu, etc.
On another note ... it's 2003 m8. Most new programs won't even run properly, if at all, on Win 95. Run out and get yourself a copy of Win 2K or XP and I promise you're computing life will be happier place.