Hi. If you send me a private email with your email address, I can send you a demo word plugin that should do everything you've mentioned above. In otherwords its currently set up to convert the selected text into an equations. Therefore if you write LaTeX, select it then make the conversion all the scaling and generation of the equation is done for you.

Be warned though, this is a very rough and ready product at the moment. A clean version should be ready in 1 month or so: once I've found the time to fit everything in and the patience to learn Word VBA!