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Default Excel Formula Doesn't Execute (Shows formula-not the calcuation)

I am encountering a situation where I create a simple Excel forumla, for
example, =sum(A1:A3). I create the formula by 1) typing it in OR 2) type
equal sign and go select another cell on another tab OR 3) copy/paste from
another formula (that is working). Case 3 seems to work, but then I have to
edit the formula to get the exact cell reference address. The results of
cases 1 and 2 a the formula is shown (not the calculation).

I have reviewed Tools\Options. I have Automatic Calculation selected and
Windows Options Formulas box is not checked. I claim to have installed all
suggested MS Office updates. Any ideas? Thanks.

Troy
 
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