Conditional Formatting No Longer Working
 

I created a spreadsheet with conditional formatting in the 97-2003 version...
I've recently updated to 2007 Office and not sure if that has anything to do
with it, but, when I create new conditional formatting on that same file, I
have to 'step off' the spreadsheet for the condition to work. i.e. if
$C$29="Yes" turn B7 Red Bold Font... so, I change C29 to Yes... but, B7
doesn't change unless I actuall go off of Excel (not close it) and come
back... I can see that B7 is 'trying' to change, but, not entirely. I've
tried saving the document as a .xsls version... or re-saving as a 97-2003
version and can't get it to work. Any ideas?