Excel 2007 is turning out to be a pain in the neck, at least where the new
file formats are concerned. Users keep on saving the files in xlsx format
even though the files concerned contain macros. There have been indications
that Excel may be selecting this format by default, but we have not yet
determined the reason why this is happening.

In any case, one possible option I'd like to offer to users is a tool that
will re-import code back into the file and then protect the project. I
realise that the password protection is weak, but this is more to do with
stopping everyday users mucking about with aspects of the file that they
should be leaving alone than protecting any intellectual property.

Is programmatically protecting a VBA project possible from within either
Excel or an external application? If so how I would I go about doing so?