Excel 2007 : cut & paste function not working

I need some help with the Cut and Paste function in Excel 2007. The Cut function stopped working correctly after I tried to copy some data from a table in a PPT file. Now when I try to Cut a cell from any Excel document (new and old) the values of the cell are copied only, leaving the original data still in the Cut cell. The options for Paste Values, Paste Formulas, etc are also greyed out in the menu. Only the values of the cells are copied to the new cell, not any formulas. Also the highlight that surrounds the cell in either Copy or Cut mode is no longer present, but the values are copied to the clipboard. No macros are running, I have tried running it in safe mode for the same result. Opening the spreadsheet on a different computer works correctly. Closing/Opening the file or rebooting the PC does not solve the problem. Any ideas how to fix this? Thanks in advance for any ideas.

I am having the same problem as described above. I have always used the shortcuts for copy and paste and now the shortcuts for cut nor the pull down menu for cut and paste are working correctly in Excel 2007. I did update some software on my laptop the same day that this issue started. In my online research, I read that it could be possibly tied to Java updates or Windows Live updates - both of which I did that same day. It seems reasonable that it could be tied to some sort of update when more than one person is having the same issue occur within just a few days of one another - something that prior to now had always worked correctly. Thanks for any help you can provide.

Thanks! Uninstalling the Skype "feature" fixed the issue.

Thanks uninstalling skype click to call solved the problem

I had the same problem, at excel 2007, copy paste, cut paste and format painter did not work at all or really inappropriate!!!

It is was "skype click to call"!!! I uninstalled it through my control panel and "programs and features".

Everything seems to work perfect now!

Thank you God and thank you martindwilson

what a wierd sollution :P
Uninstall a unrelated program,
????
Profit :D

the latest version of skype click to call has supposedly fixed the issue.