Basic file, no pictures, no formulas, huge memory and cpu usage

I have been having a problem with the attached file where just clicking around the file in different cells and doing nothing else uses max 50% cpu usage (2 cores i assume). It also uses 300+mb of memory. I have bigger more complicated files that use more sheets and more columns that use 10 times less memory and have hardly any cpu usage at all. I have no idea what is causing it as there are NO formulas, NO conditional formatting, NO macros and NO pictures in this file! It doesnt even use a large number of cells.

I am using office 2010 pro 32bit and windows 7.

Any ideas? I have attached the file in question.

There are almost 47000 shapes on the worksheet. You may use f5, Special..., Objects to select these shapes and then delete them.

goddamn thats a lot of shapes, no idea where they came from. How did you see thee are 47000? I've done f5 but a few mins later its still hammering away at it.

thanks

With VBA:

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