I remember I read somewhere out there that Office 2011 Word will support TeX (LaTeX). Is this true? I have Office 2011 on my Mac but I cannot find anything related to TeX.
I do have Office 2011: this is not true (with the exception that you can use Word to save plain text, of course). As Herbert has commented, the equation editor in recent versions of Office has been much improved, and uses a lot of ideas from TeX.
What may be meant is that the Word 2007/2011 Equation Editor understands some TeX commands (see 1:00).