Checking and Unchecking the Checkboxes for Hyperlinks
The way that filesandfolders.xla handles hyperlinks is somewhat counterintuitive. Do not worry, after you have read this, you will understand how filesandfolders.xla handles hyperlinks.
First of all, it is necessary for the hyperlinks checkbox to be checked in order to show files at all. Otherwise, clicking on the filesandfolders button will only show the recursive directory structure without showing files. Next, it only makes sense to create relative hyperlinks if there is a .xls file saved. Otherwise, if I make hyperlinks relative to the current active directory, instead of the directory containing the .xls file, then any hyperlinks relative to the current active directory will no longer point to the files they were pointing to before the current active directory was changed. They may not necessarily even be valid. Therefore, if there is not a .xls file saved, then hyperlinks will be made absolute no matter what. So you must save a .xls file to use this feature. If you already have a .xls file, then you must open it using the file, open dialog. Clicking it off of the list of most recently used files will not do(That is, unless you want to manually set the current active directory to be at or somewhere above the directory containing the .xls file). The final thing to consider is that only files off the anchor directory will be relatively hyperlinked. However, this in not immediately noticable when you hover the mouse pointer over the hyperlink as I show here:
Instead, if you right-click one of the relative links and go to edit hyperlink in the popup menu, as I have done here:
then you will see that it is a relative link with only the file name and not the path. On the other hand, if you do edit hyperlink then you get: