INDIRECT with constant array not working as expected

I have a named array constant: REF_TEXT={"A1","D3","G5"}. Basically its a list of cell references in text form. I also have a named formula: REF_LIST=INDIRECT(REF_TEXT). My expectation is that REF_LIST will return an array of references, such that =INDEX(REF_LIST,1) will return the value in cell A1, =INDEX(REF_LIST,2) the value in cell D3, and so on. Instead, =INDEX(REF_TEXT,1) is the only formula call that works, returning the correct value. =INDEX(REF_LIST,2) and all that follow result in a #REF! error.

I'm not exactly sure why this does not work. Is there a way to get INDIRECT to behave the way I want it to, or is this just not possible?

Thanks.

Well, my overall goal is to create named formula's that can take input parameters, which I have successfully accomplished. I am trying to improve upon my implementation by using arrays. It all seems to be working the way it should except for what I described above. I can't exactly mock up the workbook because there isn't really anything in the cells; it's all in the Name Manager. The basic idea behind allowing for named functions with input parameters is using the N() or T() functions to house the input parameters and collecting them within the named formula with FORMULATEXT(). That is where I get an array of references in text form. As stated above, I would like to feed that array into INDIRECT() to get an array of usable references to implement in the formula.

Haha, I was afraid that would happen, unfortunately. I have added comments to each of my named functions that explain what they do. I have also included an overall summary of what is going on. I hope that this will help make it less confusing, but I'm afraid that it won't.
Thanks again.

Well, here's the issue. I don't actually have a specific task or problem in mind. My overall goal is to be able to create named formulas that take in inputs, but do so without using macros. Again, what I've currently got does this and does it pretty well. The implementation is just a bit much to be practical. I have had times in the past where being able to create named formulas that take inputs would have been very convenient, but I'm currently not trying to accomplish anything specific. The workbook you are looking at is purely academic, basically just showing examples of how my current implementation works. The data you are referring to is meaningless. It's just there to display how the inputs can be cell references. I'm still not sure how to explain how it works. What I've implemented allows you to do the following.

In a cell: =N([NPAR1]&[INPAR2]...)+[formula using NPAR1, NPAR2... as parameters]

The [formula using NPAR1, NPAR2...] can be a named formula or typed directly in the cell. This actually works very well and is convenient. Once it is set up, it can be used in any number of formulas. The only down side is that it takes a bunch of confusing named formulas to set it up. If you can think of a better way to implement named formulas with inputs and no macros, or if you can find any way to clean up all of the named formulas that go into this implementation, that is what I am after. If its all too confusing to be worth looking through, no worries. I just thought I might get a fresh pair of eyes to look it over.

Thanks for bearing with me.

There really isn't any if there exists a built-in function that does exactly what you want. However, there is a reason why people create UDF. The built-in functions can't always satisfy what you need. What I've done just makes it possible to create UDFs without using macros. Of course I could be completely off base with this. I'm not sure what you mean by "using built-in functions" as an alternative. Of course you will use built-in functions wherever and whenever they apply, which includes using them inside of the UDFs.

Again, I may not have completely understood what you meant, so please fill me in if I'm missing something.

Thanks again.