SEE - http://blogs.msdn.com/b/emeadcrmsupport/archive/2011/10/27/mail-merge-via-crm-may-create-only-one-activity.aspx

Problem:

When performing a mail merge from CRM, only one CRM record is created if you browsed through the records in the preview

Steps to Repro:

1. Start Outlook
2. On the folder bar, go to �Microsoft CRM� -> �Contacts�
3. In the contacts list, mark several contacts and click the Mail Merge (Word) button
4. In �Mail merge Type�, choose "email"
5. In step 2, enter the address block
6. In step 3, set preview to recipient 2
7. Complete -> Electronic Mail
8. Enter any subject
9. In the Options choose to create CRM activities and to include an unsubscribe link and confirm with �OK�

=> only one activity record will be created in CRM

Cause:

this has been identified to be an issue with Word 2003, Word 2007 and Word 2010. Because the document is modified after processing a record by adding the unsubscribe link, Word cannot parse the XML database and is causing the mail merge to finish as if it had reached the last record.

Workaround:

- before finishing the mail merge browse back to the first record OR
- disable the unsubscribe link option in the merge dialog