Q: Does Word work with the new split view feature?

If you hover your cursor over the green button in the top left corner of the window, it will tell you if it does.  If it's a double-ended arrow, you can use it in Split View.  If it's a cross, you cannot. 

Word, Excel, etc in Office For Mac 2016 work with that feature.

Hmm, I don't believe the double ended arrow is a good indicator of working or not. I am running OS X 10.11.4 and have Word 2011. It does show the double ended arrow, yet will not work in split view.

You are correct Word 2011 does show the double arrow and does not support split view. That seems to be a violation of the rules. Use two Mac apps side by side in Split View - Apple Support