É possível criar uma tabela no Excel com células enormes - estendendo-se por 2/3 páginas?
Provavelmente não (a menos que você atualize sua versão do Excel).
O Excel 2003 só pode exibir 1024 caracteres em cada célula (mesmo que uma célula possa conter até 32.767 caracteres).
Versões posteriores do Excel removeram a limitação e exibirão células com até 32.767 caracteres.
In Excel there are two separate limitations at play: a limit on what can be entered in a cell and a limit on what can be displayed. In most cases, the limit on what can be entered in a cell is not a real issue; Excel allows you to enter up to 32,767 characters in each cell. All of these characters will show up in the Formula bar just fine.
The problem comes with the display limitation. There is a limit that Excel will display only the first 1,024 characters in each cell. In other words, if there is anything more than this in a cell (which could be likely in some circumstances), then it won't display; Excel pretends like it isn't even there. You can't get around this limit by changing fonts, cell sizes, wrapping status, or anything else.
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In later versions of Excel (after Excel 2003) Microsoft changed the display limits to match those of the cell entry limits. In other words, you can enter and display up to 32,767 characters in later versions of Excel.