Issue:
You have Mac Office 2016 installed and want to open documents from SharePoint (2010, 2013 or SharePoint Online) , instead of opening the document in the Office application (like Word or Excel) the web editor is started.
Or if you have SharePoint 2010 or 2013 without Office Web Apps installed then you get an error:
"A Microsoft SharePoint Foundation compatible application could not be found to edit the document."
Workaround:
If the document opens in Office Web Apps you can pick to "Open in Word" or "Open in Excel" which will start the rich client application and allow the document to be edited.
If Office Web Apps is unavailable, you can open the document directly from the rich client application by using the File \ Open menu and then navigating to the document library and selecting the document to open, or you can use the most recently used documents list in the rich client application.
Current Status:
The product group is actively working on this issue right now, check back to this blog post for new information. A server side fix will likely be available for SharePoint 2013 and SharePoint Online at some point.