I'm a bit rusty on this procedure, and I don't know about compatibility
with the newer versions of Excel, but it supposedly worked as a barrier
to reverse Engineering of code in Excel95. I used this procedure to
better assure that a cost estimation spread sheet was doing what I
intended it to do, and not to necessarily prevent someone from seeing
how it was being done.

The concept I employed was to save the macro as an "add-in" macro. The
Excel HELP notes on "add-in" macros warned that users will not be able
to decode macros saved as an "add-in," and they should save the
original code, so it could later be modified if needed. Supposedly the
code stored as an "add-in" is "compiled" macro code.

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I have saved and used macros as an "Add-in" in Excel95. I'm not sure
the feature exists in later versions of Excel. If indeed the code is
saved in compiled form, it would represent a significant barrier to
reverse engineering the code.


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