I use Labels in Formulas extensively. (Excel 2003 11.5612.5606)

That is, I tick off Options/Calculations/"Accept Labels in Formulas"
and then use whatever text string I've placed at the top of a column
of data to refer to it.

It has many benefits over Named Ranges, dynamic or otherwise for my
purposes, but one ongoing annoyance.

When I add data to the bottom of the column of data, the in-cell
formula using the label for reference does not change when it should.

Workaround:
Select cell, F2 or double click to open it, Enter.

I have a number of such formulae so updating can be a pain.

Is this expected behaviour?
Does anyone know how to update them en masse (without resorting to VBA
or other automation techniques)?