Rob is right; a drag and drop install should work for Office 2004.
It's an OS X based app, and I'm pretty sure you will not have problems.
For good measure, make sure you uninstall any trial/test drive versions you may have of Office on the newer machine.
Best,
Kurt
According to Univ. of Wyoming, it'll work:
http://www.uwyo.edu/ASKIT/displaydoc.asp?askitdocid=781&parentid=1