This can happen when certain macro code is executed which disables the right click functionality. To re-enable it, edit the registry as follows:
From this key:
Excel 97:
HKey_CURRENT_USER\Software\Microsoft\Office\8.0\Excel\Microsoft Excel
Excel 2000:
HKey_CURRENT_USER\Software\Microsoft\Office\9.0\Excel\Options
Delete the following entry:
MsoTbCust
No right click on cells in Excel.
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