SRI Thanks for posting the solution you found :-) It sounds like you mean that this option should be set in Word? (not in Excel).
I've found that if you have linked Excel charts or fields in a Word document - if they link so they refresh, and not just copied - it is always best to open Excel before you open the Word file. Sometimes I actually open the files in Excel which have the links, but I can't say for sure that's faster than just opening Excel with no spreadsheets open.
This has saved me a lot of frustration. Also if you aren't going to be repeatedly using the document, if you don't need it to refresh your data just paste it into Word, don't link it.
If you are running Word 97 then there is likely to be more bugs and hassles with linked stuff than in Word 2000 in my experience. Your server configurations and OS may also affect results, I don't know much about the hardware aspects like that though.
Mark