PlacesBar Editor is a software program that fills a need Microsoft left behind. Windows 2000/ME/XP/Vista and Office dialogs have 5 buttons on the left hand Outlook-style bar known as the PlacesBar. This utility allows you to change them to be any folder you want. Why Microsoft didn't include a utility like this we will never know....
If you would like to add your own folder to the Places Bar (seen in the File/Open and File/Save or SaveAs dialogs), you can do this by editing the Windows registry or using PlacesBar Editor. This convenient utility prevents you from accidentally messing up your registry and simultaneously updates all version of Office installed.