What are excel dependency tree limits?
There are two limits to the number of dependencies that Excel versions prior to Excel 2007 can track before it must do full calculations instead of recalculations.
* The number of different areas in a sheet that may have dependencies is limited to 65,536.
* The number of cells that may depend on a single area is limited to 8K.
After the workbook has passed these limits, Excel no longer attempts to recalculate only changed cells. Instead, it recalculates all cells at each calculation.