When a user launches Microsoft Excel 2010 when Profile Management is enabled, Excel crashes and the application closes.
Solution 1.
Add %AppData%\Local\Microsoft\Windows\INetCache\Content.MSO to the "Files to Synchronise" UPM policy.
By leveraging the granular control within file & folder synchronisation in Profile management, including this file ensures that Excel may write to it when required.
Solution 2.
Create the %AppData%\Local\Microsoft\Windows\INetCache via Group Policy so that the folder exists when initial log in completes.
As long as the INetCache folder is present the Content.MSO file can be created by Excel
Solution 3.
Follow the steps outlined in Published Application Fails to Launch Outside of Desktop Session (CTX127874), which highlights similar behaviour from Microsoft Support KB Article KB951048