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Default XL 2003: "Unable to record"

I'm recording a Follow Me macro. In one of the more lengthy formulas I'm
asking it to return specified text for several nested IFs based on the value
on another column. The formula works fine....however, when I'm recording the
macro and finish entering this formula I get an "Unable to record" error. If
I stop recording and run the macro, all the other steps process fine but the
one that's giving me the error does not process properly. HELP!
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