Link working incorrectly due to wrong option selected.
Cause:
The 'Paste' instead of the 'Paste Link' radio button was selected when linking.
Solution:
Create the link again using the 'Paste Link' radio button.
1) Select the 'Edit' menu and select 'Paste Special...'. (The Paste Special dialog box appears.)
2) Select the 'Paste Link' radio button.
3) Select the desired object type from the 'As' list box.
4) Click 'OK'.