Hi Michael
Do you mean that there is a broken link to another non exist workbook in your workbook ?
You can use the following macro:
Sub CheckLink()
On Error GoTo 99
Cells.Find(What:="#REF", After:=ActiveCell, LookIn:=xlValues, _
LookAt:=xlPart, SearchOrder:=xlByRows, _
SearchDirection:=xlNext, MatchCase:=False).Activate
On Error GoTo 99
firstAddress = ActiveCell.Address
lbl_loop: If InStr(ActiveCell.Formula, ".xls") > 0 Then _
MsgBox ActiveCell.Address & " has a link to another non exist workbook"
Cells.FindNext(After:=ActiveCell).Activate
If ActiveCell.Address <> firstAddress Then
GoTo lbl_loop
Else
GoTo 99
End If
99 MsgBox "End search"
End Sub
I hope it will help finding a broken link