I have 2 formulas with VLOOKUP function in my "template" (it euqals czech function SVYHLEDAT):
The first one uses an address of lookup area and the second one uses a named range.
After writting new data, the second formula shows #N/A as wrong value, but after Ctr+Alt+F9 everything become OK.
Template

Result

(tested at 5.20.39 and 5.20.40)
The template and result are at http://www.genet.cz/kohout/xlsrw/xlsrw_vlookup.zip for download.
Josef Kohout