This policy setting controls whether users can follow hyperlinks to templates on Office Online from within 2007 Office applications.
If you enable this policy setting, users will not be able to follow any links to templates on Office Online from within 2007 Office applications.
If you disable or do not configure this policy setting, users can download templates from Microsoft Office Online from within 2007 Office applications directly. In Access, Excel, PowerPoint, and Word, users can download templates by clicking the Microsoft Office button, clicking New, and selecting a category listed under "Microsoft Office Online" or "From Microsoft Office Online". In InfoPath, users can go to the Office Online template download page by clicking File, clicking "Design a Form Template", and then clicking "Forms on Office Online".
Note - Enabling this policy setting does not prevent users from downloading templates from the Office Online Web site using their Web browsers.