When trying to add an excel rich note, either 2003 or 2007, I can save it, exit but when I open it back up it is empty again. Save does not seem to work.
In order to save a rich note you have to close it (it will be automatically saved if needed) or use the "save rich note" button available in the Modelio toolbar (as depicted in my attachment). The "Excel save" does not really save it.