The Option key in the Mac version is, for most purposes, the equivalent of the Alt key in the Windows version.
What you are seeing has been the situation with the Alt key in the Windows version since Office 2007.
Pressing the Alt key twice returns the screen to previous settings.
In the Windows version, when using the Alt key with a keyboard shortcut that involves any other shift key, pressing the other shift key first will suppress this behavior.
Otherwise, it is a matter of timing. If you press the next key quickly enough, the Ribbon guides will not pop up.
Perhaps things are different on the Mac. I wish there were a way to turn them off in Windows because I seldom use them. There is not in the Windows version. If this a recent change to the Mac interface, I urge you to use the feedback mechanisms, quickly.
This is a user-to-user support forum. -- You can give feedback TO MICROSOFT designers and decision makers on Microsoft Word or other Microsoft Products (using their feedback mechanisms, not here)
In my article on assigning keyboard shortcuts I recommend against assigning any new shortcuts to combinations with the Alt key unless used with another shift key, because of this.
I recommend not using the Alt shift key with only one other key because they have been hijacked by the Ribbon shortcuts that appear when you press the Alt key (Word 2007 and later). They can work, but this is generally very confusing to the user because it depends on timing. The same shortcut can give two different results! I do use Shift+Alt+ and Ctrl+Alt+ and Shift+Ctrl+Alt shortcuts. When using those I press the other shift key first; this blocks the Ribbon shortcuts which do not use these keys. In the prefix examples given above I write the prefixes with the Alt key after another Shift key even though in the keyboard modification Window it may show the Alt key first.
That version is much more likely to have problems. That is why it is pre-release.
It is intended to be used by software developers trying to keep their Add-Ins compatible with Word, not for people trying to get other work done using Word.