FWIW, I don't look at TopLeftCell and BottomRightCell, but compare left,
top, right, bottom of each object with that of the range, and set a flag
against the object index if inside.

That's a good idea. I was using the Intersect (and Offset(-1,-1) for
the BottomRightCell) then testing the result for Is Nothing.

less than 0.1 sec

I'm performing quite a few operations in addition to this and I'm
noticing a slight latency. I haven't measured anything yet, but I'm
just looking through my code to see where i might be able to trim it
up.