I have custom code set to run when an excel file starts in Read Only mode. The file is on permanent display on an overhead TV and programmed to close and re open itself in Read-Only mode once every hour so as to insure it is using the latest data. Here is the code:

Private Sub Workbook_Open()
' Update Last Date Fuelgauge was saved by Scheduler
If ActiveWorkbook.ReadOnly Then
'****Run my custom code here****
Else
MsgBox "Admin mode"
End If
End Sub

However it does not seem to work in when opened in Read Only mode. If i change it to run in regular mode, and open up the file in regular mode, then it works fine. Totally confused here

Also full disclosure: I am a self taught with lots to learn, so sorry in advance if i'm missing something very simple