Yes, I know about the setting - the main problem is that Word's visual mode is (1) not based on lines, as it can be shown "paged", and (2) the model is incredibly non-accessible. The Word object model provides very, very little information about the layout (and it's only accessible for the part that is on-screen!). As a third important point, queries to the object model are incredibly slow. So slow that ViEmu/WO has to cache almost anything it asks about and search the cache before asking, or it becomes unusable.
In the end, all of this makes a proper implementation of scrolloff very hard. I do plan to experiment a bit and try to at least solve the status-line problem, but a proper implementation of scrolloff in Word/Outlook is out of scope in the short term.
Ah, the joy of Word.