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Default Unsafe ActiveX Controls Issue

With the latest Service Pack for Office 2003, we now get a message when
opening our Excel sheets that "This application is about to initialize
ActiveX controls that might be unsafe. If you trust the source of this
file, select OK and the controls will be initialized using your current
workplace settings."
Now, I have read the microsoft KB article on the topic and understand
the change, but here's where it gets bizarre. If I click OK on that
dialog, everything goes to pot. I get "System Error &H800004005
(-2147467259). Unspecified error" and then I get a low memory exception.
However, if I hit cancel, then life is beautiful and my ActiveX
controls are loaded and working. In the case when I hit OK, even after
I click through the exceptions, any time I try to access the forms with
the ActiveX controls, I can't and the exceptions return.
Can anyone explain what is going on here?
thanks!

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