App-V 5.0 Service Pack 2 is still supported despite of the release of Service Pack 3.
Therefore Microsoft has released a new hotfix package which addresses the following issues:
Office Click-to-Run applications do not start when you try to open Office documents from Microsoft SharePoint.
The App-V 5.0 SP2 client tries to virtualize Office Click-to-Run applications. This breaks integration with SharePoint and prevents Office Click-to-Run applications from starting when the user tries to edit Office documents that are hosted on SharePoint sites.
The hotfix package is available as download here: