Take a close look at your installation disk. Is it a DVD that is almost full, ie about 3.5 GB or is it only using about 750MB. The full disk is a full installation file, like a MSI. But, AFIK all 365 installers are just the 700-750MB "stub" that requires
the internet downloads to finish the installation.
I was going to say that 1.45 GB for a "full office" installation is a clear indication that you only have a partial click to run installation. But then I just checked my Office 2013 Pro Plus MSI install and it is 1.16GB. So, apparently my understanding
of the size of a full Office installation is wrong. <grin>
Take a look at the 365 Pro Plus version. As I understand it, it does include the full local install right from the start.
Also, with Office 365, even a full year subscription, you have to connect to the internet every 30 days (give or take a few) to verify your subscription status.