Lync for Mac 2011 will no longer open following 14.0.7 update

Lync will no longer open and crashes immediately on startup following the 14.0.7 update. 

Error log as follows:

Microsoft Error Reporting log version: 2.0

Error Signature:
Exception: EXC_BAD_ACCESS
Date/Time: 2013-12-19 19:33:27 +0000
Application Name: Microsoft Lync
Application Bundle ID: com.microsoft.Lync
Application Signature: UCCP
Application Version: 14.0.7.131205
Crashed Module Name: libobjc.A.dylib
Crashed Module Version: unknown
Crashed Module Offset: 0x000044a7
Blame Module Name: Microsoft Lync
Blame Module Version: 14.0.7.131205
Blame Module Offset: 0x002cd7ab
Application LCID: 1033
Extra app info: Reg=English Loc=0x0409
Crashed thread: 0