When using any office application an error banner may appear in the ribbon bar stating "Your shared license expires on ..." or "Most features are turned off because a shared computer license isn't available."
To remediate these issues:
1. Click on "File" (in the top-left corner)
2. Select "Account"
3. Under "User Information" click "Sign out" to sign your account off.
4. Now click "Sign in" and log back in with your email address and password.
5. After you have successfully signed back in, close ALL open office applications.
6. Once they are closed re-open the application that you were using and the issue should be resolved.