Embedded Office content hides Tools menu in IE9

To reproduce:

1. Add the attached PPT file to a Confluence page
2. Embed the content in the page using the Office Connector or PowerPoint macros
3. Shrink the IE9 window so that the Tools drop down should extend over the embedded document
4. Click Tools

Expected

The Tools menu will be displayed above the embedded content

Actual

The Tools menu is rendered behind the content, rendering it unusable

Replicated on 4.3.7, 5.0. Doesn't affect 5.1.