Can't create macros in Excel 2007

I've installed Excel 2007 on several PCs and written lots of macros in Excel 2007, and never had any problems. Today I installed it on a new PC. I've set macro security to enable all macros, and added the developer tab to the toolbar. However anything to do with VBA - record new macro, visual basic editor etc - is greyed out, as if I hadn't set the security option. I've closed and reopened Excel and the option is still set, I've rebooted, but it won't let e create new macros. Have I forgotten another setting somewhere?

Thanks

(Vista Premium, McAfee Internet Security installed)

Sorry about the delay, yes reinstalling fixed the problem. First time I over-rode the default and said 'install everything', second time I left the default setting, so perhaps there's a bug in 'install everything'. Anyway, problem solved, thanks!