The formula above was for the specific case where the "dates" weren't actually dates at all but in the text format
01.10.05
If you're in the UK and have a worksheet with dates in US format then some of these will probably be recognised as dates, but the wrong date, e.g. 2nd March becomes 3rd Feb and some others, where the day is greater than 12, are not recognised as dates at all, so excel treats these as text.
This formula will convert the text entries to the correct UK date and the wrong dates to the correct UK dates, assuming the format for your original "dates" of mm/dd/yy or
mm/dd/yyyy.
=IF(ISTEXT(A1),REPLACE(MID(A1,4,3)&A1,7,3,"")+0,DATE(YEAR(A1),DAY(A1),MONTH(A1)))
If you have variable formats, e.g. with single digit months or days you could use the longer
=IF(A1="","",IF(ISTEXT(A1),(MID(A1,FIND("/",A1)+1,FIND("/",A1,FIND("/",A1)+1)-FIND("/",A1))&LEFT(A1,FIND("/",A1))&RIGHT(A1,2))+0,DATE(YEAR(A1),DAY(A1),MONTH(A1))))
both of these should work for both US to UK and vice versa
having said all that I think that Norie's suggestion would also work for you, using MDY as date format, and it would probably be quicker