I am suddenly having the same problem in an environment that has been rock solid stable for well over a year now.
Here's what just happened to me:
- In Excel I created a brand new spread sheet into a local folder that's synchronized with OneDrive.
- I saved & then closed the file from within Excel
- I came back a little later and used Recent Files to re-open the same file from within the Same Excel session. Excel says that the file doesn't exists. What???
- I look around and it's in my local Recycle Bin, from which I recover it.
- I work on it some more, save it again. Return again later and once again Excel says the file doesn't exist.
- I open Cloud OneDrive in the browser and look there. Lo and behold, it's in the Cloud OneDrive's recycle bin so this time I recover it on the cloud, and it reappears a few seconds later in my local folder.
- I work some more and now it seems to stay around.
This has happened for me in several scenarios over the past few days but I've never personally had this happen to me before -- at least not that I'm aware of.
I'll be spending my weekend going through my OneDrive recycle bin to make sure nothing else got wrongly deleted by OneDrive.