Without getting too complicated, I have formula with nested levels of IF
statements. These were created before I created Named ranges of data to
correspond with cell references in the formulas.

Excel 2003 help says you can select the range with the formulas, use Insert
- Name - Apply and check off the Names you want to replace cell references.

Excel keeps coming back with it cannot find any refs to replace? (I must
note that it did appear to replace dell refs for the first Name in the
list...)

If I do this one formula at a time it works fine but that is way too tedious.