Excel File Error: Open, Read-Only, or Review State

The Excel linking document needs to be saved and closed:

prior to updating the CrossLink, if a structural change has been made (adding or deleting rows or columns)
before applying a new CrossLink

When applying or updating a link, you may see this error message:

Cannot update the source Excel file. Possible reasons are: the file is currently open by another user, the file is set to read-only, the file is a DM report in a review state.

Troubleshooting

Save and close Excel, and try updating the link again
Open the Excel file to confirm it is not in use by another user
Wait longer between saving and updating the link, to allow the Excel file to finish saving to the network
Contact Support for assistance