This policy key configures whether or not pivot caches should go through file validation and get scanned for security problems ...

This policy key configures whether or not pivot caches should go through file validation and get scanned for security problems when documents in Excel 97-2003 format are opened.

If you enable this policy setting, you may select one of these options:

- No file validation: Never perform file validation on pivot caches for all Excel files (not recommended).
- Web and email sources: Perform file validation on pivot caches for documents that come from the web and email, in addition to all documents that trigger pivot caches on load (default).
- Always perform validation: Always perform file validation on pivot caches for all Excel files.

This setting can be overridden by the Object Model property Application.FileValidationPivot.

If you disable or do not configure this policy setting, the "Web and email source" setting will apply.