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Default Compatibility Issue between files created in 2003 but opened in 20

We have an issue when files have been created in Excel 2003 with an .xls
format and then another user that has been upgraded to Excel 2007 in
compatibility mode. They(2007) do not see the changes that have been made
nor does the time stamp of the file update on thier side?? But you can see
it on the 2003 side. Anybody have any ideas? Is this a known issue?
 
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