Maybe you could use autocorrect. The same feature that turns teh into the could
work for you.
I'd use a different string, though.
Maybe _A1
(just to make it more unique)
You'd set it up in Tools|autocorrect options|autocorrect tab
This autocorrect list is shared between the office programs (word, excel,
powerpoint...)
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As alternative, you may be able to create a worksheet that contains the
translations.
Put your codes in column A and the real description in column B.
Then you could use a formula in an adjacent cell that returns that longer
description.
=if(a2="","",vlookup(a2,sheet2!a:b,2,false))
You may want to read Debra Dalgleish's notes:
http://www.contextures.com/xlFunctions02.html