To some extent at least, the problem you're experiencing is due to the fact that Excel's aspect ratios are off. For example, if you insert a perfect circle shape into Excel then print it, it typically comes out as an oval. If you insert your Excel links into a one-cell Word Table with a fixed column width, the object will resize itself to fit that, though there's little you can do about the aspect-ratio issue other than resizing the rows & columns in Excel.

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Cheers,
Paul Edstein
[Fmr MS MVP - Word]