Hi,
The KB article mentions that this update cannot be uninstalled. This software update will be a prerequisite to install service packs. Additionally, this update improves reliability when you install or remove Windows 7 and Windows Server 2008 R2 updates and service packs.
http://support.microsoft.com/KB/976902
Since you have issues with Internet Explorer 8 and Microsoft Office 2010 after installing the update, I suspect the involvement of a third party software conflict. I'd have you put your machine in aclean boot state to eliminate third party software conflict.
Note: Follow step 7 to restart the computer as usual.
Azeez Nadeem - Microsoft Support
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