Did you re-confirm* the formula after ensuring the format was ok ?
*eg: click inside the formula bar, press ENTER

..the cell formatted as text would (normally) show only the result
of the particular calculation formatted as text; not the entire formula.

I'm not sure about that. Think cells which are pre-formatted as text would
exhibit behaviour very similar to what you posted (Just tried it here <g)

How about the calc mode of the book ? Is it set to Auto ?
(Click Tools Options Calculation tab Automatic OK)
--
Max
Singapore
http://savefile.com/projects/236895
xdemechanik
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"Kimmo Kallio" wrote:
No, they were not. And even if they were, the cell formatted as text would
(normally) show only the result of the particular calculation formatted as
text; not the entire formula.

I even tried to copy-paste formats from other "working" cells, but it didn't
help. So it certainly is not about formats. Frankly speaking, I really think
it's a bug.