MS Excel Macro Security

We have a Windows 2003 SP2 (Std Edition) Terminal Server. What we are finding is that locked down users cannot open an Excel 2003 spreadsheet (containing macros) without an error occuring. Opening the same spreadhseet under the Administrator profile allows it to open correctly without any errors.

I’m assuming it’s a permissions issue, but I just can’t determine where to look?

TIA.