example, assume using the above formula and name the substitute part "subst"
f, do insertnamedefine and
put subst in the name and in the reference box put

=SUBSTITUTE(Sheet1!$J$4,"/","^^",2)

That would only work (I think) for the current column and Row. Since
there are many rows and several columns, how could I make the define
less static.

ie:
=SUBSTITUTE(Sheet1!<column offset from current<current
row,"/","^^",2)

Thanks.