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Ben McBen
 
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I have had sinmilar issues - but forst make sure that in
Tools - Options - View Tab - you havent got
the "Formulas" check box ticked somehow. However if this
is not the case, then on occaision I have had this - I got
around it by copying a cell which showed the vlaue OK,
then paste special the format over the offending cell. I
never figured out what caused this to happen - theres
probably a good one that someone can explain - and we can
then both deal with this issue more wholistically...

ttfn benm