I want to be able to create a link to an Excel workbook which worked in older
version of Excel and i was curious if it still works in Excel 2007. I
followed the process below but it did not seem to work.

In the URL line, put your cursor after (workbook).xls and type #(name) where
(name) represents the name you defined in step two. For example, if the
workbook you created was entitled 'Workbook' and the Name you defined in step
two was 'worksheet', the URL line would read:
Workbook.xls#worksheet