OK. After further troubleshooting I have isolated the source of the problem.
The problem was not coming from the formulas in the cells that were
displaying the incorrect values. I thought that adding a 5th level to the
nested IF statements was the start of the problem, but that wasn't it. I had
also made a change to the cell formulas in an adjacent column which were
being referenced by the cells having the display problem.

Here is the formula being referenced that is causing the problem:

IF(SUM(IF((Expiry_Dates_Array-TODAY()>=0)*(Expiry_Dates_Array-TODAY()<=2),1,0))-ROW()+Last_Non_Expiry_Message_Row+1>0,Expiry_Message,"")

More specifically, the volatile function TODAY(), in the above formula, is
responsible for the error. I don't understand why this is, but if I replace
TODAY() with the date code, the problem disappears. Too bad I can't use this
function! I'll have to think up some other way. Any suggestions?

"Ken Wright" wrote:

> I'm with JE in that without seeing it it's very hard to do much about it,
> albeit given you have multiple named formulas you would have to list those
> too.
>
> That having been said, if it's really evaluating correctly initially and
> then failing as you copy down, then that is usually a sign of having a range
> in the formula that is relative when it is supposed to be absolute. Any
> chance that could be the case?
>
> --
> Regards
> Ken....................... Microsoft MVP - Excel
> Sys Spec - Win XP Pro / XL 97/00/02/03
>
> ----------------------------------------------------------------------------
> It's easier to beg forgiveness than ask permission :-)
> ----------------------------------------------------------------------------
> <snip>
>
>
>