Installing the desktop applications Word, Excel, Outlook etc from a Office 365 Home Premium licence entails going to www.office.com/myaccount
and selecting the Install option
Even on an internet connection that isn't that fast (10 Mbps), the setup process runs for only a few seconds and then tells me that it will complete in the background and I can run the applications.
Sure enough, I can open Word and it's there - after maybe a minute.
Is that a "Click to run" installation, or is it a real installation?
I ask because Excel Add-ons specifically say that they will not work with "Click to run" installations. There is no CD, and there is no "fullfile" or "offline installer" - it's got to be downloaded and installed via the office.com website (and it doesn't ask for a product key for the second and subsequent PC installations - that's all in the Microsoft Account / Passport)