Excel 2007. Clicking the uppermost 'X' used to close down all active
spreadsheets, asking if you wanted to save all or step through each closing
spreadsheets and ask specifically to save each one.

That no longer appears to happen in 2007. Now the uppermost 'X' just closes
the active spreadsheet. In effect, there is no difference between clicking
the uppermost 'X' and clicking the specific spreadhseet's 'X'.

Is there an option I am missing somewhere? It is incredably annoying no
having that master 'shut down' button.