How do you not update any external links?

[Dick Vitale]

When prompted "Update" and "Don't Update" we clicked "Don't Update". However,
it appeared certain cells tried to update while others did not. If the link
had a formula it gave us "#VALUE" if it was just a lookup it gave us the
correct value. When we open the file in Microsoft 97 or 2000, we do not get
this error. It only occurs in Microsoft 2003.

 

[Dave Peterson]

xl2002+ likes to recalculate any workbooks that were created in previous
versions. In earlier versions of excel, if you answer No to the update links
prompt, the existing values are kept. In xl2002+, you get those errors.

Jim Rech posted a registry tweak:
http://groups.google.com/[email protected]

Maybe it'll work ok for you.