hi, joe !

yes !, using =evaluate("...") in named-formulae is one of the ways excel 4 macros waring arises
as evaluate comes from the (ancient) XL-4 macro-functions (for those whom remembers that) language

glad to be in help (and thanks for your feed-back) <vg
regards,
hector.

__ previous posts __
however, "macros" in macrosheets are "named-ranges" (either as functions or commands)

I do not understand that, but that pointed me in the right direction.
Thanks!
Aha! Problem solved!

I had created a named formula of the form =EVALUATE("1+2+3").
When I deleted that, the "Excel 4.0 macro" warning went away(!).

Yup, that's it! When I create a new workbook (no macros, etc)
and add another named formula of the form =EVALUATE("..."), the warning returns.

I am surprised. Using =EVALUATE() in a named formula has been recommended before
in these newsgroups without any mention of an additional warning at load time.

Thank you very much for your patient troublingshoot tips.