One of my colleagues imported some data into Excel 2007 and a select few of
records had the correct information when you viewed the cell content in the
bar at the top, but when you look at the cell only the last letter would
appear.

Further changing the alignment or format of the text did not help the
matter, what you have to do is clear all formats and then your data will
appear correctly in the cell.

To clear all formats, make sure you are in the Home tab and select the cells
that need to be fixed, then click the arrow next to the eraser tool in the
editing section of the ribbon and select Clear Formats.