I need to protect a workbook's VBA project. But I do not know how to do this
while at the same time preserving the right to set and unset references to
dll's at runtime (My code adds the solver add-in and sets a project
reference to it). Not only that, I cannot let the user set a reference
manually and save the workbook, because I would have to give them the VBA
Project password in order to make this change.

I might save a workbook with reference already set, prior to distributing,
but I am sure that will result in broken links for some users.

Can someone help me out of this Catch 22? My client does not want the
project viewable.

Is the answer to build compiled modules in an ActiveX.DLL? He doesn't want
to pay for that as of now.

Bill Benson