XLL doesn't properly load

I've got a XLL Addin and I'm trying to run it under Excel 2007 XP without VBA installed. My addin is well registered (OPEN key as /R "C:\Program Files (x86)\MyAddin\myAddin.xll" in HKEY_CURRENT_USER\Software\Microsoft\Office\12.0\Excel\Options). When debuging, I see that DLLMain is called... but not xlAutoOpen (neither others xlSomethings functions): my UDFs are thus not registered (it was done in xlAutoOpen). Do I miss something ? Do I absolutly need VB开发者_开发知识库A installed ? If yes, is there another way to avoid installing it ?

I had the same issue. When I installed Office I deliberately did not install any Excel Add-Ins -- it looks like this actually cripples the loading of any future Add-ins.

After running the Office installer again and choosing to install the 'built-in' Add-Ins, I finally hit my xlAutoOpen breakpoint.