Text overflow

As far as I know, there is no such mechanism available for excel cells :-(

If I propoerly understand what you mean by "referencing text from another cell" it could be to some extend (but badly) simulated
Could be improved a bit from the below sample with spaces location recognition, but anyway - nothing as nice_and_easy as in Publisher.

So just for fun - not recommended in real life :-)

Say in A1 you wrote:

The quick brown fox jumps over the lazy dog

in C3 you could write formula like:

Formula:

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in H3 you could write:

Formula:

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in M3:

Formula:

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in M6 (we do not have to stic to one row):

Formula:

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in H6 (we do not have also to always go right :-) ):

Formula:

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and in C6:

Formula:

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(of course it will remain empty at the moment, bit if you change A1 to:

The quick brown fox jumps over the lazy dog as we all know

the text will flow also into it.