If the Excel objects were inserted in-line, you should be able to see the field codes they use by pressing Alt-F9. You can then use Find/Replace to change the paths (Note the use of '\\' for the path separators instead of '\') and and filenames. When you're done, simply press Alt-F9 again, followed by Ctrl-A, F9 to update the links.

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Cheers,
Paul Edstein
[Fmr MS MVP - Word]