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Conditional Format Does Not Refresh

Hello,

Encountered an issue with how Excel 2007 updates/refreshes conditional formatting, description below:

1.) Data validation list set up in a cell with two user options
2.) Conditional format set as follows:

Option 1: Format cell as number
Option 2: Format cell as percent

3.) Once data validation is set and "Apply" button chosen, the cell is correctly formatted. Once option 1 is chosen however, it will not revert back to the % when option 2 is selected.
4.) The only way to get it to update as a % is to select any cell in the workbook, hit F2, and Enter. Or you can go back through the conditional formatting wizard.

Attached a very basic workbook that displays the issue and aligns with example above.

Thanks for any help!
CS


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