You can restrain XLC from automatically subscripting this is cover in the online help just below the flash tutorial
http://www.excelcalcs.com/content/view/52/126/.
A cell entry of "a1" when 'named' will be automatically subscripted after the first character and " =" will be appended. On 'redraw equations' XLC finds named cells ending in " =" and forces all characters after the first to be subscripted. However if you edit the cell and change "a1 =" to "a1=" (i.e. drop the space) you can override XLC default behaviour. Format the cell as you like by using Excel's format font command and it will be dragged into equations with the formatting options you gave it. I would recommend that you always display multiplication signs to avoid confusion.