I have exactly the same problem. I use a workbook with multiple vba modules which simply will not open after the latest Office update. Your 1/2 fix, unfortunately, does not work for me.

Another computer running Excel 2013 does not have the problem. This is certainly an issue with the Office 365 update and I hope SOMEBODY at Microsoft is addressing it.

Just yesterday, we found a fix that works! Use the steps in the link below to "roll back" to an earlier version.

As per https://community.spiceworks.com/topic/1999368-excel-instantly-crashes-upon-opening-a-certain-worksheet we can roll back to the previous version of Office 2016.

Their thread shows a pushd command and version update comman to run at the ADMINISTRATOR LEVEL command prompt:
pushd %programfiles%\common files\microsoft shared\clicktorun
officec2rclient.exe /update user updatetoversion=16.0.7967.2161

RWilkes: I found that solution as well, but implementing it requires me to disable future updates of Office 365, which makes this a temporary solution at best. Plus, I have sold a number of workbooks to several technologically challenged offices which are unable to go through all the steps required for the fix.

Microsoft has to come up with a permanent solution to this problem it has created, and soon.