Try:

Private Sub Worksheet_SelectionChange(ByVal Target As
Range)
With ActiveSheet
Select Case Target.Address
Case "$E$9"
.OLEObjects("SpinButton1").Enabled = True
.OLEObjects("SpinButton2").Enabled = False
Case "$E$12"
.OLEObjects("SpinButton1").Enabled = False
.OLEObjects("SpinButton2").Enabled = True
End Select
End With

End Sub

Regards,
Greg