This policy setting controls whether Excel 2007 can recognize certain types of data in workbooks and automatically label them with with smart tags, and whether users can enable or disable this behavior by checking or unchecking the "Label data with smart tags" option in the user interface (UI) under Microsoft Office button | Excel Options | Proofing | AutoCorrect Options | Smart Tags tab. If smart tag recognition is enabled, Excel can recognize dates, calendar symbols, person names, and geographic headings, and provide actions that users can perform in external applications such as Outlook and Microsoft MapPoint 2006.
If you enable this policy setting, users can configure Excel 2007 to recognize smart tags. Note: Excel 2007 does not recognize smart tags until users check the "Label data with smart tags" option in the UI.
If you disable this policy setting, users cannot configure Excel 2007 to recognize smart tags.
If you do not configure this policy setting, the behavior of Excel 2007 is the equivalent of setting the policy to Enabled.
Important - The policy setting "Recognize SmartTags" (find it in the Group Policy Object Editor under User Configuration | Administrative Templates | Classic Administrative Templates (ADM) | Microsoft Office Excel 2007 | Miscellaneous) does not function as intended, and will interfere with the configuration of "Recognize smart tags in Excel" if used. For more information, see this Microsoft Knowledge Base article: http://r.office.microsoft.com/r/rlidGPKBSecSettingsDontWork?clid=en-us.