I open a new Excel worksheet, Insert, Object, Adobe, I select a pdf file, the
preview shows up in Excel as a hatched picture, Adobe fires up for changes.
The comments in the Adobe environment do not show in the Excel preview
hatched box. I figured there was a "Flatten Image" command in Adobe, but
couldn't find it. I then thought there was a "Show Comments" option in
Excel, but couldn't find it. I'm currently printing to jpg's, but pdf's are
smaller file sizes.

Any other possibilities?