Sounds like a workspace file, which contains information about
workbooks, but not the workbooks themselves. So the workbook files may
not be able to be accessed... You'll need to find the workbook files.
From XL Help ("Save a group of workbooks in a customized workspace")
You can open a group of workbooks in one step by creating a workspace
file. A workspace file saves information about all open workbooks,
such as their locations, window sizes, and screen positions. When you
open a workspace file by using the Open command (File menu),
Microsoft Excel opens each workbook saved in the workspace. The
workspace file does not contain the workbooks themselves, and you
must continue to save changes you make to the individual workbooks.
IIRC, *very* old (e.g., XL4) workspaces saved worksheets in the .xlw
file, but more recent versions should be able to open those.