Formulas not working after protecting and Protect VBA greyed out

Hello,

I have a large workbook and am just beginning to test to protect formulas and VBA. the formulas we are testing to lock down as simple like below example
=SUM(AA4:AL4).
issues im having are below and attached:

1. the user can still edit the formulas in the formula bar (we dont want to hide formula bar
2. The Cell with the formula shows #NAME? (see attached)
3. Ive tried with using the Use Excel automation for formula protecton (on and off) and still doesnt work
4. Also the lock VBA Project option is greyed ouy (attached)

Can I Please get some guidence on what I am doing wrong or if its not possible?

Thanks
VNR

Are you using an Excel workbook in binary format?
If yes, then Lock VBA project is disabled. Try switching to a normal Excel workbook file format.

Thank you gdgsupport understood,

How about the questions 1,2 & 3 ?

They are indirectly linked to the BINARY format. Have you tried a normal workbook format? Any remaining issues?