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Default Formulas are becoming text strings

I'm using Excel 2003
This problem has recently popped up and it is frustrating the hell out of
me. I will have a formula in a worksheet. It works perfectly fine. I then
copy and paste that formula into another worksheet. If I now click in the
copied formula in order to edit it, when I hit the Enter key after making my
edit the cell will display the formula as a text string instead of displaying
the formula result. This happens even if I don't make changes to the
formula. And these are pretty simple formulas too if that matters.

Any suggestions for troubleshooting this? It's driving me crazy!
 
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