Artik...... THANKS! I will be able to mark this as SOLVED. Your code works perfectly in Excel 2003 and Excel 2007.
I still don't know why the original text box (created in Excel 2003 from the drawing tools toolbar) wouldn't work in Excel 2007, but since the activeX control textbox functions in both versions and your code spell checks that type of textbox, I'm very satisfied.
Thanks for the help.
Ron