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For xlsm files you need to do an extra step at the start.  Basically xlsm is a zipped format, so rename the extension to .zip and do the following:

1. open and open the "xl" folder
2. extract "vbaProject.bin"
3. do hexedit method above on the "vbaProject.bin" file
4. save the file and the reinsert into the zip
5. rename back to xlsm.
6. repeat steps previously outlined by changing and then removing the password.

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