Access 2007 complains about a missing file (e.g. MSOUTL.OLB):

force the database to open anyway, then cancel any visual basic debuggers.
>From the main screen, go to Database Tools ribbon tab > Visual Basic
button on there. This lets you access the Tools > references menu in the
visual basic program; and then you can update the missing references.

(To get copies of the files you need, go find them on an MSo2k3 install
and copy them over. it doesn't matter where you put them.)