Suddenly can't record macros creating or affecting shapes

In the meantime, how would I write the code that would format a button so that the first word ("Hide") would be white and the second word ("Buttons") would be RGB(158,231,39)?

Thanks,
John

Check
(a) if your security settings have been changes - Excel options
(b) if you are in EDIT mode
(c) if you are on a network and/or have an admin, check if your permissions have changed
Now also check the following:
- Two settings (Digital Certificate for VBA Projects and Visiual Basic for Applications) from the Installation Options tab may have the Not Available option selected when the application is installed.
- Change these to Run from My Computer

Also,

Also check y
1. Use MSO2007 Installation **.
2. Make sure the "Visual Basic for Applications" option is installed:
+ Office Shared Features
+ Visual Basic for Applications
3. Enable macros:
Click on: The Office Button | Excel Options | Trust Center | Trust Center Settings (Button on Right) | Macro Settings
Ensure you select one of the options for enabled macros - avoid the "Enable all Macros" and use one with warnings to avoid getting infected by any malicious macros.

Also check to see if there is another macro active/running in the VBA window.  That will gray out the Record macro button

Here is what the macro recorder yielded

Sub formatbutton()
    Selection.Characters.Text = "Hide Buttons"
    With Selection.Characters(Start:=1, Length:=4).Font
        .Name = "Calibri"
        .Size = 11
        .Strikethrough = False
        .Superscript = False
        .Subscript = False
        .OutlineFont = False
        .Shadow = False
        .Underline = xlUnderlineStyleNone
        .ColorIndex = 2
    End With
    With Selection.Characters(Start:=5, Length:=1).Font
        .Name = "Calibri"
        .Size = 11
        .Strikethrough = False
        .Superscript = False
        .Subscript = False
        .OutlineFont = False
        .Shadow = False
        .Underline = xlUnderlineStyleNone
        .ColorIndex = 1
    End With
    With Selection.Characters(Start:=6, Length:=7).Font
        .Name = "Calibri"
        .Size = 11
        .Strikethrough = False
        .Superscript = False
        .Subscript = False
        .OutlineFont = False
        .Shadow = False
        .Underline = xlUnderlineStyleNone
        .ColorIndex = RGB(158, 231, 39) 'changed this manually to get what you want
    Range("E5").Select
End Sub

Excel 2007 does not have that capability in the macro recorder, sadly (MS broke it) - it is restored (mostly) in 2010.

Rorya...I am sure that the macro recorder wrks on Excel 2007
Check above

See for example this MSKB article: http://support.microsoft.com/kb/937620

Thanks, Rory. Sorry I've been away from this question for so long. My apologies, extermie.  Thank you for posting, but I have to go with Rory on this one.

- John