No, MS Office version 2007 or above should be installed on your machine to work with the software.
No, the Office Upgrade tool will upgrade and export only three types of MS Office documents i.e. DOC, PPT and XLS and save them as DOCX, PPTX, and XLSX respectively.
To upgrade MS office documents you should have MS office 2007 or upper versions installed in your machine.
No, there is no such limitation. You can upgrade as many MS Office files as you like; of any size.
Software supports all versions of MS Office documents. You can upgrade files created on Office 95 to Office 2003 into MS Office 2007 / 2010 compatible formats.