Office 2010: Unable to embedded an .xls file that contains VBA code in a .ppt file

I am trying to embed Excel .xls file objects that contain VBA code in pages of a .ppt file. Using the menus insert -> object -> from file.

This works fine if I use Powerpoint 2003, but when I try to use Powerpoint 2010 I can get the object inserted but when I try to edit it, I get the following errors:

First in Excel:
Error accessing file. Network connection may have been lost.

Then in PowerPoint:
Microsoft PowerPoint can't start the application required to open this object. An error occurred and this featue is no longer functioning properly. Would you like to repair this feature now? I click "no" as I know the function is fine.

then another PowerPoint error:
There isn't enough memory available to read Worksheet.

The files are stored on same disk drive.

My troubleshooting so far:

1. I have set all macro security for both Excel and Powerpoint 2003 and 2010 to none.
2. I have checked any boxes that state trust VBA objects.
3. If I insert the .xls object using PowerPoint 2003 on another system and then re-open the ppt file using 2010, I can then edit the .xls object.
4. If I convert the .xls file to .xlsm, then insert, it will work fine.
5. PowerPoint 2010 can insert and edit .xls objects that do not contain VBA code.
6. I set the references in the Powerpoint VB editor to include Excel object library, no change.
7. I have installed 2003 on the same system as 2010 (Win 7), and it will not work then, even in the 2003 applications.
8. I have installed 2010 on the Win XP system and it did not work there either.
9. I tried dragging and dropping the xls file onto the ppt page, that results in 7 of the 'Error accessing file. . ' messages before it inserts the object.
10. If I insert the object in 2010, then try to edit the object on the 2003 system, I get the same edit errors.
11. I can create a new Excel 97-2003 worksheet object, then add a macro to it after it is inserted and it will edit fine. It only errors when inserting from file.

To reproduce the problem, open/create a powerpoint file (can be ppt or pptx). Then insert any xls file that contains some VBA code. Insert the file as an Excel 97-2003 worksheet object. After the object is inserted, select to edit the worksheet object. That is when the errors will occur.

Windows 7 system details:
OS - Windows 7 64-bit
Office ver - 2010 Professional Plus
Intel core2duo cpu
4GB ram

Windows XP system details:
OS - Windows XP Pro SP3
Office ver - 3002 Standard Edition SP3
Virtual machine on Oracle VM VirtualBox

Any help is greatly appreciated.

Erick

No takes huh, could someone at least confirm that they can reproduce the problem? Or is this too much of a powerpoint problem?