One of the bad things about Office is that MSWord can open .xls files. And if
the file is saved as a Word Document (even with a .xls extension), then that
file can no longer be opened by excel.
Try this against a copy--no sense taking a chance that you'll do more damage.
Start up MSWord
File|open that copy of your .xls file.
If it opens there, then there's a pretty good chance that some user saved it as
an MSWord file. You may be able to save a bit of it by just copying and pasting
into a new workbook in Excel. But you'll probably have lots of work to do to
recreate it (or maybe just restore from a backup???).
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If that's not it....
Sometimes, you can open files in a later version of excel. (Maybe xl2002,
xl2003???)
Lots of people have said that they could save a great deal of the data/code
using OpenOffice.org.
http://www.openoffice.org, a 60-65 meg download or a CD
There are commercial recovery services. I've never used it, but you might want
to check into:
http://www.officerecovery.com