I'm having the same problem. I have an Office 365 account through work, and yesterday, I installed the Office 2011 for Mac software on a new computer. I ran Office Setup Assistant on my Mac (late 2012 Mac mini running 10.10.3) and clicked Sign In to an Existing Office 365 Subscription.
I briefly saw a blank window with a little rounded-cornered box in the center...
and then got to the form to enter the email address associated with my Office 365 account. I could fill in the address, but clicking the "Next" button yielded no response.
Hitting Enter did move me to the next screen, where I was informed that the same address was associated with a Microsoft account and a work account. However, the graphics seemed discolored as I rolled over them, and clicking on neither option did anything.
Finally, I hit the "back" button at the bottom of the window, returned to the original screen, and once again tried to log in with an Office 365 subscription, which produced this message:
This process has happened again and again since yesterday. I've re-tried it every few hours, but only gotten the same frustrating results. This process worked just fine on another computer, but that was months ago, before I upgraded to Mavericks.
Any help you could offer would be most appreciated. Thanks for your time!