Yes, Office 2007 SP2 is supported on Win XP SP2 too

The system requirements on the download page for the 2007 Microsoft Office Suite Service Pack 2 (SP2) lists Windows XP Service Pack 3...but that's because that is the latest and greatest for Windows XP.  Windows XP SP2 supports Office 2007 SP2.  Just note that MS support for SP2 of Win XP ends Jul 13 2010.

Cheers!

- Cat