I had a similar problem and I'm convinced there is a bug in Excel 2002 somewhere. My Excel 2000 file had similar symptoms - wouldnt open, or opened with errors and 100% cpu usage. In may case, the use of "tables" was the problem, and associated VBA code. (They ran fine in 2000 btw)
I solved it by buying (the reason for the bug?) and installing Excel 2002 on my home machine, deleting tables and VBA code in 2000, then opening the file in 2002, rebuilding tables and associated VBA code to run the tables, and resaving it.
then the file would open on other computers ok.
Phil