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Default Autosize Merged Cell - Including auto shrink of cell

I was given a macro to autosize merged cells, however, the macro has the following issues: 1) it only enlarges the cell to fit text (it does not shrink the merged cell to fit the text if the cell is already set too large), 2) I have to highlight each individual cell that I would like to autosize, prior to running the macro (so I can't autosize all merged cells within a sheet by the click of a button). 3) Is it possible to have this macro run instantaneously while I am working in the spreadsheet, so that all merged cells are autosized after I change the cell value?

I found some code on a website (http://www.ozgrid.com/forum/showthread.php?t=143390) that is supposed to correct the "autosize down" problem that I am having as listed above per item #1, however, I cannot get the macro to show up after I insert it into a module, to see if it works.

Can someone help me with the 2-3 issues that I have listed above?

The macro that I was given, as stated in the 1st paragraph above (which only autosizes "up"), may be found on the following address: http://www.excelbanter.com/showthread.php?t=448038
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