AutoShapes are automatically converted to Edit mode when you open an Excel 2003 workbook

You edit and then save a Microsoft Office Excel 2003 file that contains AutoShapes. You open this file in Excel 2007, edit the file, and then save it as an Excel 2007 file. When you reopen the file in Excel 2003, the AutoShapes are automatically converted to Edit mode. Additionally, if the AutoShapes were originally transparent, the transparency setting is lost, and the corresponding text areas are now invisible.

To resolve this issue, apply the hotfix that is described in the following Microsoft Knowledge Base (KB) article.