This is from a Microsoft knowledge base article, slightly modified to improve
clairty:
First install Office Service Packs via office update *to install the hotfix*.
Then, *to enable the hotfix*:
1. Click Start, click Run, type regedit in the Open box, and then press
ENTER.
2. Locate and then click the following key:
HKEY_CURRENT_USER\SOFTWARE\Microsoft\Office\10.0\Excel\Options
3. On the Edit menu, point to New, and then click DWORD Value.
4. Type QFE_Saskatchewan for the name, and then press ENTER.
5. Right-click the QFE_Saskatchewan entry, and then click Modify.
6. In the Value box, type 2 to have Excel always flush the file cache before
obtaining the time stamp (which should resolve the problem in most cases), or
type 1 in order to have Excel disable the time stamp check (not recommended)
and suppress the dialog in all cases. Click OK to save the setting. (try 2
before 1)
7. Re-start Excel to have the setting take effect for that user.
The registry edit has to be performed for all excel users of the PC if the
users have different windows/domain login accounts.
I don't know if this fix applies to excel 2003, but it's worth a shot. You
may have to browse to a different registry key
HKEY_CURRENT_USER\SOFTWARE\Microsoft\Office\XX.X?\Excel\Options
Whatever it is for office 2003. Maybe it's still 10.0, maybe 11.0, or
something else.