Excel remembering old incorrect values?

[elkinm]

I have a spreadsheet in Excel 365 that is constantly using more and more ram until it crashes.

The sheet uses RTD to pull data from a third party data source.

I opened the file on a different machine with Excel 2010, but without the data source so I expected all the links to be #N/A.
However, all the links displayed a value, probably the last value when saved.

If I select any formula and press enter it correctly displays #N/A, but it needs to be done for every cell.

The question is how is this happening and could it be that Excel 365 is constantly saving values which eats memory constantly?

 

[elkinm]

Also, I am using the latest 365 32-bit on Windows 7 64 bit. The issue did not exist before 365, but now exists in older versions.

 

[elkinm]

I have disabled the option "Save external link values" in settings, but it seems to have no effect.