(1) Please indent.
(2) Consider syntax highlighting. http://softwaremaniacs.org/soft/highlight/en/ will do it for you.
We wrote similar apps for Outlook 2013, but didn't see much traction. Also, compared to classic COM plugins (which are also still supported by 2013), the API is very limited. That combined with no backwards compatibility makes me think that it would have been better to implement this as a COM plugin for better coverage and functionality...
If the user experience is appropriate, then apps typically work very well in both Word and Excel without any changes to the application code.