I am working on a spreadsheet that has dozens upon dozens of links.
Recently, upon opening this spreadhseet, I noticed that there were still
numbers in a cell that was linked to file that has been deleted. I even
updated but the data was still there.

I would have expected a #REF error because the spreadsheet that this cell
was linked to was deleted. Does anyone know why the data is still showing as
if the file still existed?