Ron de Bruin shared this with us in microsoft.public.excel.misc:

Hi CW

Disable restart and maybe the blue screen will give you information
about your problem

On the Control panel click on System
Advanced tab
Startup and......
Disable Automatic restart

Exactly.
Often a hardware problem is the cause, like an overclocked CPU or bad
RAM. Excel is CPU&RAM hungry so more likely to run into a problem.

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Amedee Van Gasse