Yes. You can go into MSQuery and open the file then edit it. You can either
go to MSQuery from Excel (Data... Get External Data... New Database Query)
and then open, edit, and save the file - even if you never return the values
to Excel ("Cancel and return to Microsoft Excel").
But you can also open MSQuery directly - it is an .exe file in your Office
program file folder (MSQRY.EXE). Then create and edit queries to your
heart's content!