I have a spreadsheet originally created in 2003. It has queries in it, run against SQL Server, that are set to automatically refresh when the parameters stored in worksheet cells change. This works fine in 2003. It works fine in 2007 if I open the .xls file. It doesn't work at all if I open the file saved as an .xlsm file. There are no other changes other than xls vs xlsm. Any ideas?