A new button called 'Delete XLC functions' has been included in XLC version 05.07. This button must be used with caution because it deletes all functions "OVD", "UND", "ODI", "UDI" and "EQS". If one or more of these functions does not exist on the sheet Excel will prompt you to say that it could not find the data it was searching for.
Your worksheet will look the same but with XLC functions removed your equation objects become static graphic and cannot be updated. Your worksheet is now a native Excel file and can be sent to a user without XLC (some unfortunate people cannot install XLC on their machines at work).
It is strongly recommended that you always save an XLC version of any file that you create without XLC function! Be aware there is no undo on XLC!