There have been many posts about this over the years.
http://www.excelguru.ca/blog/2009/03/17/microsoft-add-in-causes-vbe-ghost-project-issues/
http://www.bettersolutions.com/excel/ECC653/MR026524332.htm
http://www.office-archive.com/2-excel/15f29edb770122c1.htm
I have not come across a fix other than removing potential addins that may cause it.
Cheers
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