I have a VARBINARY(MAX) field in a database table which contains ~35k characters. This field is a converted word document which unfortunately no longer have access to.
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SSMSBoost add-in for SSMS that I develop has 2 features that can help you:
It can "visualize" documents saved in cells right from ResultsGrid. So you will be able to see your document in word right from SSMS. Link: http://www.ssmsboost.com/Features/ssms-add-in-results-grid-visualizers-feature
It can copy all bytes from cell to clipboard. You can paste the data then in some "good" text editor and save it as .doc. But first solution is better, as far as you will get word document directly: http://www.ssmsboost.com/Features/ssms-add-in-copy-results-grid-cell-contents-line-with-breaks