Print Preview is no longer an option in Office for Mac 2011’s Excel and has been replaced by the
Page Layout View. Mac MVP Bob Jones recommends the following solution:
“Have you taken a look at Page Layout View? IMHO, it's far more "elegant" than Print Preview ever aspired to being. Adjust margins using the Ruler similar to what you would do in a word processing app. You can
also adjust the Page Breaks, edit Headers & Footers, set Titles to repeat, as well as all the other adjustments formerly handled in the Page Setup dialog. The difference is that you can see the result of each adjustment as you make it.”
You can find Page Layout View on the
Layout tab, under View: