Este é um tiro no escuro, eu corro o Win 7 64bit, mas tente isto :
Declare Function SetWindowPos Lib "user32" _ (ByVal hwnd As Long, ByVal hWndInsertAfter As Long, _ ByVal X As Long, ByVal Y As Long, ByVal cx As Long, _ ByVal cy As Long, ByVal uFlags As Long) As Long
Private Declare Function FindWindow Lib "user32" _
Alias "FindWindowA" (ByVal lpClassName As String, _
ByVal lpWindowName As String) As Long
Const HWND_TOPMOST = -1 Const HWND_NOTOPMOST = -2
Sub AlwaysOnTop()
Dim hwnd As Long Dim res As Long
hwnd = FindWindow("XLMAIN", vbNullString) res = SetWindowPos(hwnd, HWND_TOPMOST, 0, 0, 0, 0, vbNull)
End Sub
Sub NotAlwaysOnTop()
Dim hwnd As Long Dim res As Long
hwnd = FindWindow("XLMAIN", vbNullString) res = SetWindowPos(hwnd, HWND_NOTOPMOST, 0, 0, 0, 0, vbNull)
End Sub
Coloque isso no VBA e, em seguida, execute a macro alwaysontop. Veja se fica no topo. Não funciona para mim , mesmo quando o converti para 64 bits.