Office 2007- a question of installs

I'm not sure if this aspect makes a difference to the question or not, but I have a copy of Office 2007 that was supplied by my school. The disk is labeled as Microsoft Office Enterprise 2007, and around the edge says "licensed for use only by students and faculty" on one side, and "illegal to resell or make copies of this disk." It's a legitimate M$ holographic disk, not a copy or anything, and also says Not for resale, not for OEM or retail distribution.

My question is pretty simple. Can I have it installed on more than one of my own computers without throwing up any red flags as far as M$ update is concerned? It's currently installed on my desktop, but I'm seriously considering getting a cheap laptop or netbook so that I can do schoolwork without being tied to my desktop at all times. Can I have it installed on both, and possibly under WINE on a linux dual-boot?

Assuming you're a student/faculty of the organization that purchased the liscense, and you also have their permission, then yes.

The student license allows for multiple installs, you should have no issues. I think M$ has bigger problems to deal with concerning office anyways.