A family of Microsoft spreadsheet software with tools for analyzing, charting, and communicating data.
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There is no option to automatically control the formula bar to expand and retract in Excel 2010 or latest version.
However in order to Expand and retract that formula bar, use Ctrl + Shift + U. But again, this would be a manual option.
Although this feature is not available and if you feel that this feature is important to you then please take a moment to send us your feature request(s) by submitting your feedback. Microsoft is committed to continuously improve your experience with our products. Our product team will review your suggestion(s) and consider them for future versions of our products.
Please take some time and post your feedback by clicking on the link below:
http://office.microsoft.com/en-US/suggestions.aspx?origin=ES079000000&CTT=114
Hope the information provided is helpful.
Thank you.