Excel 2007 : Compatibility Checker - invalid warnings

I'm working with Excel 2003 files in Excel 2007, and every time when I save a file as an Excel 97-2003 Workbook I get a number of warnings indicating that there is data beyond row 65,536 or column IV, but when I click on Find, it goes to cell A1 of the sheet in question. Is there a way to figure out why this is happening? There is no data beyond those rows and columns, and I find it irritating that every time I save the file I get a ton of meaningless warnings. I want to keep the Compatibility Checker turned on because I want to make sure I'm not going to lose a significant feature that my Excel 2003 users won't be able to use, but it's a pain to sort through all the invalid warnings to get to a valid one.

Has anyone else experienced this, and is there a way to prevent these invalid warnings from coming up every time?

Thanks.

Tried that - deleting as you suggested, but am still getting the same error. It's strange because when you're in compatibility mode, the rows and columns don't even go beyond the Excel 2003 limit, so how can there be any data beyond that? Quite strange.

Thanks.
Karyn