Hi KC,

You might like to try my 'Field Link Updater', available at:
http://www.wopr.com/cgi-bin/w3t/showthreaded.pl?Number=261488

Alternatively, if the Word document and all of the Excel files it's linked to are always kept together in the same folder (even
though that folder might change), you could use the following:

Option Explicit
Public SFileName As String, FieldType As String, OldPath As String, Sv As Boolean

Sub AutoOpen()
' This routine runs whenever the document is opened. It mainly performs a set of housekeeping functions.
' Most of the work is done by the UpdateFields and GetSourceFileName routines.
Dim sBar As Boolean, oSection As Section, shp As Shape, oHeadFoot As HeaderFooter
sBar = Application.DisplayStatusBar ' Store StatusBar visibility condition
Application.DisplayStatusBar = True ' Make StatusBar visible
Application.ScreenUpdating = False ' Minimise screen flicker
Selection.EndKey Unit:=wdStory
ActiveWindow.View.ShowFieldCodes = True
Sv = False
Call UpdateFields
' Set the saved status of the document to true, so that path update changes via this macro are ignored.
' Since they'll be recreated the next time the document is opened, saving such changes doesn't really matter.
' Then clean up and exit
ActiveWindow.View.ShowFieldCodes = False
On Error Resume Next ' In case there's only one active pane
ActiveWindow.ActivePane.Close
If ActiveWindow.View.SplitSpecial = wdPaneNone Then
   ActiveWindow.ActivePane.View.Type = wdPrintView
Else
   ActiveWindow.View.Type = wdPrintView
End If
' Delete or comment out the next line to prevent saving
If Sv = True Then ActiveDocument.Save
ActiveDocument.Saved = True
Application.DisplayStatusBar = sBar ' Restore StatusBar to original visibility condition
Selection.HomeKey Unit:=wdStory
Application.ScreenUpdating = True
End Sub

Private Sub UpdateFields()
' This routine sets the new path for external field references, calls the GetSourceFileName routine to get the
' link's filename, plus any bookmarks and switches from the original field then merges these into a new field.
Dim wdRange As Range, FieldCount As Integer, NewPath As String, NewField As String
' Get the new path
NewPath = Replace$(ActiveDocument.Path, "\", "\\") & "\\"
' Go through the document, updating all external field links with the new path.
For Each wdRange In ActiveDocument.StoryRanges
   If wdRange.Fields.Count > 0 Then
       For FieldCount = wdRange.Fields.Count To 1 Step -1
           wdRange.Fields(FieldCount).Select
           With wdRange.Fields(FieldCount)
               Select Case True
               Case .Type = wdFieldHyperlink
                   FieldType = "HYPERLINK"
               Case .Type = wdFieldIncludeText
                FieldType = "INCLUDETEXT"
               Case .Type = wdFieldIncludePicture
                   FieldType = "INCLUDEPICTURE"
               Case .Type = wdFieldLink
                   FieldType = "LINK"
               Case .Type = wdFieldRefDoc
                   FieldType = "RD"
               Case Else
                   FieldType = ""
               End Select
           End With
           If FieldType <> "" Then
               Call GetSourceFileName
               ' Don't bother doing anything if the paths are the same
               If OldPath <> NewPath Then
                   Sv = True
                   ' Compile the new field's code
                   NewField = FieldType & " " & """" & NewPath & SFileName
                   Application.StatusBar = "Updating " & SFileName ' Show progress on status bar
                   ' Replace the old field with the new one
                   With Selection
                       .Delete
                       .Fields.Add Range:=Selection.Range, Type:=wdFieldEmpty, Text:=NewField, PreserveFormatting:=False
                   End With
               End If
           End If
       Next FieldCount
   End If
Next wdRange
Application.StatusBar = "Finished!"
End Sub

Private Sub GetSourceFileName()
' This routine gets the source file's name, plus any bookmarks and switches from the original field.
Dim CharPos As Integer
SFileName = Selection
For CharPos = Len(SFileName) To 0 Step -1
   On Error Resume Next 'In case there's no path
   If Mid(SFileName, CharPos, 2) = "\\" Then
       SFileName = Mid(SFileName, CharPos + 2)
       Exit For
   End If
Next CharPos
' Delete any extra spaces on the right, but preserve leading & internal spacing.
SFileName = RTrim(Replace$(SFileName, Chr(21), ""))
' Extract the old path for testing
OldPath = Trim(Replace(Replace(Mid(Selection, 2, CharPos), FieldType, ""), """", ""))
End Sub

Cheers