I recently faced an interesting customer scenario. The customer had several document libraries in MOSS 2007. The documents in the library contained links that were all hard coded and they had recently changed the URL of their SharePoint site. Therefore, when a user would try to click a link in the document that linked to another document, the user would receive a 404 error. Yes, there are ways to solve this using re-directs and other mechanisms, but the customer was actually interested in trying to determine which links in which documents were actually broken.
The challenge with this is that SharePoint does not index the links inside of Word documents. So the there was no straight forward way to be able to use the native SharePoint search interface to try to find the mangled links.
Instead, I wrote a client that would allow the customer to specify their SharePoint site and the particular text of the link they are interested in searching for. From there, I use the SharePoint Lists.asmx service to search through each list in the site, determine if the list is a Document Library, search for .doc and .docx files in the library, then search the content of each file. The application also supports searching sub folders inside of the Document Library.
Here is a link to the solution.