If you have a shared word document on a server that take ages to open then the reason may be a template link within the document that is no longer available. To remove the link do the following-

Word 2007

1/ Once the document finally opens - Click the office button (top left) and choose the Word Options button

2/ Highlight Add-ins on the left menu and in the drop down menu next to Manage, choose Templates and click Go

3/ Remove document template link and click ok

Word 2003

1/ Once the document finally open, go to Tools - Templates and Add-ins

2/ Remove the document template link and click ok