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Default Excel hangs on Save As

I have a workbook which refuses to save once data has been imported. I am not
using an ActiveWorkbook.OnSave command and have tried turning everything I
can think of back on i.e. ScreenIpdating=True, EnableEvents=True,
IgnoreRemoteRequests=False, have unprotected the worksheets and macros and
unhidden all rows & columns.
Whether I try to SaveAs programatically, or via the Excel User Interface, I
sometimes get a status bar message of 'Calculating Cells 0%' - so I have
tried Application.CalculateBeforeSave = False. I have also run Windows
Update to ensure that the Verclsid.exe glitch is not the cause.
The save creates a 16KB file with a name such as 7ACA2000 or 8C805000, but
that is as far as it gets. CPU usage goes to 100% and even leaving it for
half an hour does not allow it to complete a save.

 
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