I see it now...thank you. What a bummer!
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Source:
Changes to custom properties in Outlook 2003 Service Pack 2
http://support.microsoft.com/?id=907985

***Not recommended: Deploy or send .oft files for users to open***
[+]You can save Outlook custom forms as .oft files. These forms can
contain custom fields, user-interface changes, and custom Microsoft
Visual Basic Scripting Edition (VBScript) code to add functionality to
the form. Although Outlook already contains features that prevent the
VBScript code in .oft files from running, Outlook now also restricts
the use of .oft files. If an .oft file contains custom properties and
the user has not previously used those custom properties, the custom
properties are not in the user's default store. Outlook will not render
the custom form when the user double-clicks the file. However, to have
Outlook open a custom form that is stored as an .oft file, click File,
click New, and then click Choose Form. You can then change the location
to User Templates in File System, and then click Browse to open the
..oft file. The form will open, and you can save the custom properties
to the default store.