I'm developing in Excel 2007 and when opening the file in Excel 2003, I
get the following missing references in the VBE:

MISSING: Microsoft Outlook 12.0 Object Library
MISSING: Microsoft PowerPoint 12.0 Object Library

Does anybody know how to automatically remove missing references in both
Excel 2007 and 2003 and add necessary references such as:

Microsoft Outlook 11.0 Object Library
Microsoft PowerPoint 11.0 Object Library

I found the following code, which I referenced from Workbook_Open, but
it froze my Excel and I'm not sure where to go from here?
www.vbaexpress.com/kb/getarticle.php?kb_id=272

Option Explicit

Sub References_RemoveMissing()
'Macro purpose: To remove missing references from the VBE

Dim theRef As Variant, i As Long

On Error Resume Next

For i = ThisWorkbook.VBProject.References.Count To 1 Step -1
Set theRef = ThisWorkbook.VBProject.References.Item(i)
If theRef.isbroken = True Then
ThisWorkbook.VBProject.References.Remove theRef
End If
Next i

If Err <> 0 Then
MsgBox "A missing reference has been encountered!" _
& "You will need to remove the reference manually.", _
vbCritical, "Unable To Remove Missing Reference"
End If

On Error Goto 0
End Sub