Right now when I try to save a document the location options are simply: Documents, Pictures, Downloads, etc. and then "Recent Locations". I want to be able to browse through my documents for the correct folder to save to but I cannot figure out how to enable these feature. I just updated OS X and it disabled the "browse" feature.
I think what you are looking for is the button that expands the save dialog to the expanded size. I took the below screenshot in Word 2016 running on Yosemite, but as this is (almost) the standard OS X save dialog I think you should find it in the same place in Word 2011.