If it is happening only with one excel workbook then it seems to be an excel template issue.
Can you re-create the same thing in a new excel sheet and see if you are seeing the same behavior?
We had something similar running Smart View 22.214.171.124 ... I think there was an option to tick within Smart View Options which fixed this (although the name didn't give any indication that it would).
I think it was Options / Advanced / Compatibility then Improve Metadata Storage.
Might be something completely different for your version mind, but thought I would give it a mention regardless.