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Default Large excel file problem when moved from 2003 to 2007

I have a file with a large amount of weather and flow data that is presented
in many diagrams using excel 2003. The file is 32 MB. The diagrams have
displayed relatively fast and I´ve had no problems with the file being open
at the same time as GIS, cad and other relatively demanding programs.
I opened the file in 2007 and then moved to a diagram. The RAM usage
increased imediately from 700 mb to 1,3 GB and increased another 300 MB for
every diagram. Drawing the diagram took about 30 seconds and eventually the
RAM limit was exhuasted and excel crashed. When I saved the file in xlsx
format the file size was 10 MB.
What is going on? Is there a conversion program missing?
 
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