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Default Paste Special Formula Multiply feature doesn't work anymore

Has anyone noticed that the "Paste Special - Formula - multiply" feature
does not work and it works instead the same as "Paste Special - Values -
multiply"?

In Excel in 2003 I was able to copy a formula like '=$A$1' then "Paste
Special - Formula - multiply" onto a second cell (call it A2=$Z$1) and get
a new formula in A2 = $Z$1*$A$1.
Example:
Z1 = 5
A1 = $Z$1
A2 = 100

Copy cell A1 & click cell A2

In Excel 2003, "Paste Special - Formula - multiply" would result in cell
A2 becoming =100*$Z$1

In Excel 2007, "Paste Special - Formula - multiply" is resulting in cell
A2 becoming =500 (inherent calc being 100*5)

This suggests that Excel 2007 has a bug in feature "Paste Special - Formula
- multiply" because it works instead as Excel 2007, "Paste Special - Values
- multiply"

Has anyone found a solution from Microsoft. I can create a macro but I use
to use that feature a lot and don't want to create a macro every time. Help
will be appreciated. Thanks.
 
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