Graphical Equations for Excel (alpha)

Like the idea of checking to see if an equation already has a name assigned previously. Generally Excel does this automatically if you click on a cell that is named, but it wouldn't if you had typed it in by hand.

I guess the question is how far do we go. If we start modifying equations from the form they were originally, then we run the danger of producing an equation that differs from what the user really wanted. i.e. could there be circumstances when they really do what the references not the name reference?