Depending on how much you've chosen to import - meaning the number of rows & columns, it can be a problems or not. You can simply click on the container for the cells in ID and again hit Place. Then select the NEW range and hit Ok. the new will repalce the old.
If this would be an ongoing thing, you would probably be best to INITIALLY choose to import more rows and columns than you'll be initially showing. If you use the Rectangle frame tool first and place the excel cells in that, you can simply resize the frame and crop out the unused ones - as long as they're at any edge.
Then, as long as the excel doc is linked, if you update the excel doc, adding cells, you go to your Links window, select the excel doc and choose Update link. Then, resize the frame to fit the bigger insert.
Please remember that ID is a tool for setting up static print documents. It's not all that great using a lot of data and constantly altering it - at least automatically. If yo go to Adobe's site, you'll find various scripts/plufins for ID - some free and some paid. You might find one that will helps you with this particular situation.
Using OSX 10.3.9 on a G4