A family of Microsoft word processing software products for creating web, email, and print documents.
I'm not sure where the setting is stored, but you could try deleting the Data key for Word in the registry. Then see if Word preserves the setting you choose.
Alternatively, use auto macros as follows:
Sub AutoOpen()
On Error Resume Next
ActiveWindow.View _
.RevisionsMode = wdBalloonRevisions
End Sub
Sub AutoNew()
On Error Resume Next
ActiveWindow.View _
.RevisionsMode = wdBalloonRevisions
End Sub
Note that the RevisionsMode property is hidden in Word 2010, which means that it still works, but it won't be supported in the future. The On Error statement above will prevent it from raising an error (when it eventually stops working), though.
For assistance with the auto macros, take a look at http://www.gmayor.com/installing_macro.htm.