A Security Update has been released for Outlook 2007 which contains a defense-in-depth update as mentioned in Security Advisory ADV170015. This is a general security update that is not specific to any current exploit.
View: Download information for KB4011086
Update September 19, 2017:
Due to UI language issues with this update, it has been replaced with KB401110. Uninstall KB4011086 before applying the new update.
Note: This update can be installed via Microsoft Update and updates Outlook to version 12.0.6776.5000.