If the Suggested import method works, but does the obvious thing of Splitting it into different cells, my question would be is, are the text cells in sequence.
If there is a text limit on Excel, then the problem will continuously arise, and seemingly the only way to overcome it would be to format the cells so that the data is readable.
The thing that intrigues me, is that Crystal Reports used to have an export function for taking reports to excel... also, the native Reports part of Crystal is fairly good.
If it has to come into Excel, then it seems that a compromise work-around is needed, however, whenever I saw Crystal Reports data taken from Crystal Reports using an SQL back-end, the end result was always use-able, even with huge text sections.