How to hide text formatting popup (Mini Toolbar) in Microsoft Word 2007
Hit the Office button.
Choose Word Options.
In the "Options" → "Popular" window ("Options" → "General" in newer versions of Word), uncheck the "Show Mini Toolbar on selection" option:
If I understood correctly what exactly you wish to disable, then these are the instructions on how to do it.
In short, Round button / Word Options / Remove the checkmark on "Show Mini toolbar on Selection".