Kent,
I think you are asking about updating the chart title, not just a series
title. In Excel 2003, you cannot link chart titles to cells.
What I have done in the past is to create another data series with the
series title linked to another cell. Then I make the data series format so
that it is blank. Then the graphs' legend can be moved near the title and it
looks like it is part of the title. Of course if you have multiple items you
are graphing and the legend is a key part of the graph this may not work to
your liking.