So the fix was to delete the MS Excel cache on all the Macs of those opening it. Not sure why they all had the issue - perhaps a work wide update or similar..
Procedures:
a. Close all Office 365 app for Mac applications.
b. From Finder Go/Go to Folder (Shift+Cmd+G).
c. Enter "~/Library/Containers" and press Go (Return key).
d. Find the "Microsoft Excel" folder (as well as Word, PowerPoint).
e. Move those folders to the desktop.
f. Restart the Mac to see the result.
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