So I would take a completely different approach to this problem then you are. I'm not saying what you're trying to do is wrong, just that I think this might be a better approach.
First, I would get rid of the lookup table and just do math directly on each number. That's going to require a little bit of work, but not that much. Here's the process.
1. Save your unconverted strings as a text file.
2. Import that text file into excel (Data -->Get External Data --> From Text)
3. When importing, choose Delimited by space
4. Make sure your fraction column (what will be column C in your example data) is not formatted as general or date (text will do)
5. Your import should look like this:
sdr.png
6. Now do a find and replace for anything in Column C that isn't a number (e.g. Replace "Inches" with "")
7. Format Column C as Number
8. Now run this code:
9. Yay, all your conversions are done (you could even set your ConRange to all the data, to pick up things like that 3/8 in.)
10. Format the numbers as you wish.
11. Do a find and replace for things like "in" to "mm"
12. Recombine all the data if you want to by pasting into a word processor and replacing tabs with spaces.
Looks like a lot of steps but I did it in less than a minute. I think that would be faster than 700+ searches even if you could get them set up perfectly. Plus this way, you don't have to keep track of every single conversion you need to do and add it to a conversion table.
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