In Excel 2007, I would like my chart to not display chart data for empty cells.

On the "Hidden and Empty Cell Settings" I have "Show empty cells as: Gaps".
I can't seem to get this to work, but my cells aren't empty perse. They
return a formula value:

=IF(<condition=0,"",<formula)

The cells that are being displayed (as 0) on the chart appear blank in the
spreadsheet. Any ideas?