We have seen reports of Excel documents hanging whenever trying to open a spreadsheet that uses Information Rights Management (IRM) after you apply MS12-057 or this hotfix: http://support.microsoft.com/kb/2687297. Additionally, the reports go on to say that a new file may hang when you try to apply IRM protection after installing this security update.
If you suspect you are running into this error, you should be able to resolve the problem by deleting all files in the following path:%LOCALAPPDATA%\Microsoft\DRM
also, make sure to rename or delete the following registry key:
HKEY_CURRENT_USER\Software\Microsoft\Office\14.0\Common\DRM - delete the CachedCorpLicenseServer value
and delete or rename all entries under
Microsoft has not confirmed whether the hanging behavior is actually a direct result of installing MS12-057, and the problem is still under investigation.