With Excel 2007, I would first try to open the file in Open and Repair mode.
- Create a copy (with the original file extention) and note the location.
- Open Excel with a blank workbook. Optionally close the blank workbook.
- Click the Office button, then Open.
- Navigate to the copy of the file you created earlier and highlight it (e.g. single click).
- In the lower right area (left of Cancel) there is an Open button with other options available from the drop arrow at the right side of the button. ChooseOpen and Repair.
- When asked about Excel can perform checks..., select Repair.
Did that rectify the problem? If not you may have to repeat the process selectingExtract data instead to get all values and formulas in order to reconstruct your work.
*see also:*Repairing a corrupted workbook
*http://office.microsoft.com/en-us/excel-help/repairing-a-corrupted-workbook-HA*
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