One quick note: Whatever you do with that precious floppy of yours, try to keep it write-protected and don't let any disk repair prog's near it unless you either feel:
a) Desperate -or-
b) Confident

Lastly, what's on it, a flat text document, something with fancy tables, how big is the file etc? The former improves your chances of a 'rough' recovery with a sector editor.

Lastly, Word is crap with error reporting, I mean really crap. See if you can copy the file elsewhere before opening it.