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answers:

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The Access 2007 app creates an Excel 2007 from a template file and saves as Excel 2007.

xlWorkbook.SaveAs "C:\TestFile.xlsx", FileFormat:=51 'Excel 2007 without macros

If Excel 2007 is installed, no problem. If both 2003 & 2007 are installed, the file is created as 2007, but the the computer is trying to create with 2003. A "Newer version..." error is given. Some of the formulas introduced in 2007 do not work (Name?). There is a Conversion process going on. Even if you open the file in 2007, the new formulas do not work.

Tried rebooting the computer and only openning Excel 2007.

A: 

There may be an issue with the order that the Excel versions were installed. The following commands will make Excel 2007 the default app:

In Excel 2007 - Office Button | Excel Options | Resources | Diagnose (run Microsoft Office Diagnostics) button.

Jeff O