I have version 5.06, I believe that's the latest version, and yes I'm sure it matches exactly it finds the file just fine and even manages to pull data, but if the workbook is closed it will only pull the very first record in the range, for example;

with the workbook open when I run the formula I get

2
3
4
5
6

with it closed I get

2
2
2
2
2

=Indirect(Concatenate("'C:\Documents and Settings\hughel13\My Documents\["&Reports!$C$11&".xls]Sheet1'!R2:R138"))

Does work perfectly when the workbook is open.