A family of Microsoft spreadsheet software with tools for analyzing, charting, and communicating data
Dear Spookspear,
Greetings! Thank you for posting in Microsoft Community.
Per your description, you want to use the old "Document Location" in Excel as the "Address [document location]" opens Excel file via its WEBDAV address, not the Location of the active workbook.
We tried testing in different versions, different channels of Excel from our side, sorry to say that we can only find "Address [document location]".
Per searching, we found other community members also reported that "Document Location" is not available in Excel. We do understand the inconvenience caused and apologize for it.
Personally, I could understand your concern and I completely agree with you, it would be better to open the location of the active workbook. Thank you for bringing thing to our attention.
I sincerely recommend you send feedback for this situation within Excel by clicking File > Feedback > I don't like something. Feedback submit by this way directly goes to the related team. This is the best way to let the developers know your requirements. Your input will help us improve the product, many features have been developed and improved based on users' comment,
Thank you for your cooperation and understanding! We hope you keep safe and healthy always.
Sincerely,
Tina | Microsoft Community Moderator