Following the thread on modifying the right click menu I wrote the following macro to remove little used items from the menu:
Sub ModifyMenu3()

Dim cb As CommandBar
foundFlag = False

For Each cb In CommandBars
If cb.Name = "Cell" Then
For i = 1 To cb.Controls.Count
If cb.Controls(i).Caption = "Cu&t" Then
cb.Controls(i).Visible = False
foundFlag = True
End If
If cb.Controls(i).Caption = "&Hyperlink..." Then
cb.Controls(i).Visible = False
foundFlag = True
End If
If cb.Controls(i).Caption = "Pic&k From List..." Then
cb.Controls(i).Visible = False
foundFlag = True
End If
Next i
End If
Next cb

If Not foundFlag Then
MsgBox "The Cell CommandBar does not contain a Cut control."
End If
End Sub

If I run the macro via Tools/Macros it does not remove the offending items from the menu, but if I go into VBA and step through the macro via Debug/Step Into, it works perfectly. Any ideas why this weird behaviour?