This problem appears to have been resolved; however, a few other solutions have occurred to me that may help other people in a similar situation.
Creating a 300 page document (let's say 75,000 words), with imbedded photos, may not be the best use for a word processor, like Word. I would suggest using a more robust software, like MS Publisher (not sure if available on Mac) or Scrivener (which is what I use for large word-count documents).
Finally, it may have worked, since "diannefromnewyork" says that she knows there were multiple image files that could have been deleted, would have been to open in a text editor app, like Text Wrangler, where the image files could've been removed fairly easily. However, this solution assumes that you have at least a minimal working knowledge of HTML.
Hope this helps others.