To remove the update installer, first drag the Office 2011 SP1 Update (14.1.0) volume to the Trash, and then drag the file that you downloaded to the Trash. If the installation finishes successfully, you can remove the update installer from your hard disk.
This step might have been performed for you. To check your preferences, on the Safari menu, click Preferences, and then click General. If you are using Safari, the downloaded file is saved to the desktop unless you specified a different location in the Preferences dialog box of Safari.