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Jet formulas showing up on report as directories

I can't seem to figure this one out.

i have a Jet Report, with jet functions in it.

for instance, here is a simple NF
=NF($C5,E$4)

But for some reason i save my report, open it back up and it is now showing as
='C:\Program Files\JetReports\JetReports.xla'!NF($C5,E$4)

I am using Jet Reports 7.1.0
I am using Office 2007
Connecting to a NAV 5.0SP1 database

Any ideas?

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