Is the splash screen a userform? If yes, then do this:

UserFormName.Show vbModeless
UserFormName.Repaint
'rest of code

Hth,
Merjet

DoEvents allows the current thread of execution to be temporarilly
interrupted to run a new bit of code based on an event such as clicking a
button. Once the button's code is completed then it returns to the original
thread of execution to be completed. For your splash screen your might want
to try changing your code to do the following...

1. Load the splash screen (I assum it is just a user form?)
2. Run your initialization procedures
3. Unload your splash screen...

Private Sub Workbook_Open()
   Call UserForm1
End Sub

Private Sub UserForm_Initialize()
   MsgBox "Do your on open stuff"
   Unload Me
End Sub

... Or something like that...