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I was working with a client recently who had the idea that they could make use of Excel Calculation Services to render parts of a spreadsheet that they use heavily inside their business. The client hoped to be able to publish the spreadsheet in it’s current form.

Unfortunately if any of the following features are inside your spreadsheet, it will fail to render:

• Spreadsheets with code.  This includes spreadsheets with VBA macros, forms controls, toolbox controls, MS 5.0 Dialogs, and XLM Sheets.
• IRM-protected spreadsheets
• ActiveX Controls
• Embedded SmartTags
• PivotTables based on “multiple consolidation” ranges
• External references (links to other spreadsheets)
• Spreadsheets saved in formula view
• XML expansion packs
• XML Maps
• Data validation
• Query Tables, SharePoint Lists, Web Queries, and Text Queries
• Spreadsheets that reference add-ins
• Spreadsheets that use the RTD() function
• Spreadsheet that use spreadsheet and sheet protection
• Embedded pictures or clip art
• Cell and Sheet background pictures
• AutoShapes and WordArt
• Ink Annotations 
• Organization Charts and Diagrams.
• DDE Links

In my case the complex spreadsheet that the client was using contained a number of these features, which basically meant that they need to maintain a cut down spreadsheet just for rendering on the intranet.