Part of the reason for using that kind of formula is so you can get non-changing timestamps into a spreadsheet without using VBA. In this case, VBA is doing the thing that you want timestamped, so have VBA enter the time stamp.
'code to insert and format new row
Sheets("Sheet1").Range("A4").Select
ActiveCell.Value=Now()
or
Sheets("Sheet1").Range("A4").Select
ACtiveCell.Value=CDbl(Now()) 'in case Excel has any trouble converting the date data type output of the Now() function to its native double data type
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