QUOTE
1. Firstly, in Excel 2003 and below, open the control toolbox. Or in Excel 2007, choose the Developer tab and then, in the "Controls" section, choose "insert".
2. Choose "More controls", then "Shockwave Flash Object". Drag a rectangle to the size of your choice. Right-click, choose "Properties".
3. In the "Properties" dialog, scroll to the top and there should be a heading called "custom". In the box next to this, when you click it, a button with "..." should appear. Click this button. A window will appear.
4. In one of the boxes in this window you need to enter the full URL of your flash object, e.g C:\flashthing.swf
5. If you want the flash object to be saved in the Excel document (this is essential), check the box next to "Embed Movie".
6. Change the rest of the settings to your liking. Click "OK", save the spreadsheet, close it and open it. Ta-dah!