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Excel 2010 does not update hyperlink references when previous rows to the destination are added or deleted unlike excel XP. I can create a reference as text by searching for the proper cell on another sheet but hyperlinks do NOT accept text as a reference. INDIRECT does not work since hypertext then takes the value at the destination as the reference.

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Is there a question in your statement or are you just venting frustration? This issue would be a lot easier to understand if you added a few examples to illustrate. For e.g. What are "previous rows to the destination"?? –  teylyn Feb 8 '13 at 5:28
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