Hi Young, thanks for your answer. Please find below some more input.
I am running Outlook 2011 (14.3.9) and Lync 2011 (14.0.7).
1. For “the system is keeping running without being able to create online meeting” you mentioned, is there any related error? I will appreciate it if you can post a screenshot of this, therefore, we can know clearly about the symptom?
There is no error, just the a permanent "please wait" and I am unable to proceed with meeting creation.
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2. You’re right. From your description, we can see this issue is related to the specific setting of Outlook for Mac client.
I am running Outlook 2011 (14.3.9) and Lync 2011 (14.0.7).
1. For “the system is keeping running without being able to create online meeting” you mentioned, is there any related error? I will appreciate it if you can post a screenshot of this, therefore, we can know clearly about the symptom?
There is no error, just the a permanent "please wait" and I am unable to proceed with meeting creation.

2. You’re right. From your description, we can see this issue is related to the specific setting of Outlook for Mac client.
If possible, you can try to create a meeting from another Mac client. Does this issue also exist?
No Sorry, I am the only mac user at the office. All the others are windows.
3. Do other users have the same issue? This will help narrow down this issue.
No Sorry, I am the only mac user at the office. All the others are windows.
4. Has this issue existed since you configured the Office 365 account in Outlook client or happened just recently?
This issue occurred I asked IT to include my intercall conference number linked with Lync.