Well, the big warning at the top might be an indicator:
"For data validation to work, the workbook which contains the list must be open, in the same instance of Excel. You could create the list in a workbook that is always open, but hidden, such as the Personal.xls workbook."
This is the reason I never do this. VLOOKUP is perfectly suited to do what you want and doesn't require all the gymnastics. PLUS, it works with closed workbooks.
Bookmarks