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Default Excel 07 won't allow my Excel 03 files to link properly

We recently loaded excel 2007 onto my PC at work, but kept excel 03 on it as
the default program since the rest of the company still uses excel 03.

I noticed that now my links do not work. Most of my excel reporting is done
as a shell summary workbook that links to multiple source files that have
been exported from our database interface. (These can be exported as .xls or
..xl5)

Before loading in 07, all of my source files were exported as .xls and
worked fine. Now, even though I've totally removed excel 07 from my pc and
unistalled/ reinstalled 03, the links will not update.

If I keep my source file as .xls, when I click update, the program becomes
non- responsive. I can open the source file and it will update, but don't
want to have to do that every single time.

If I open the source file and jusk click save, then close it, then my
automatic update of links does work when I open my shell file and click
update. (But again, don't want to have to do that every single time)

If I switch my source files to be exported as .xl5, I get the error message
"Workbook has no bound sheets" when I click update.

Please help...thank you in advance!
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