It does "Save" if I do what you suggest and open with the Ctrl Key held
down.
The version I am using is Excel 2002

I have tried a few things. One thing I noticed after I reinstalled my
operating system is that when I open Excel; a dialog box opens and it
states that it is installing a Component. If I allow it to complete;
after about 3 or 4 seconds a progress bar completes and the box goes
away and Excel loads as it did before. This Dialog box did not show up
before. What I have been doing is "canceling" the install of the
component; however; today I let it install and tried a save. It worked.
It appears that I have to let this "Component" install!

Any takes on that and is there a work around.