A family of Microsoft spreadsheet software with tools for analyzing, charting, and communicating data.
Sean, could you make some more test while CPU is on high?
Open Process Explorer
https://technet.microsoft.com/en-us/sysinternals/processexplorer.aspx
Оpen Excel.exe process, page Threads, and double click on thread where CPU is high to see thread's call stack.
Also, could you remove all data you may consider as private from this file and repeat tests to force high CPU usage by entering some random numbers?
MS told that in my case file was created by a third-party application and in this case they are unable to help/solve the problem.
BTW, is your file is native Excel-born or from third-party too as mine?