Solution : https://service.sap.com/sap/support/notes/1469452 (SAP Service marketplace login required)
Key words : 
wb open reason, open option, auto refresh, excel hangs, 1000 single values, prerequisites due, program error, install  'bw 3, 5 frontend patch 10, 5 frontend patch 2
Related Notes : 
       
| 1461047 | SAPBWNews NW2004 / BW 3.5 Add-On FrontEnd Patch 02 - GUI7.20 | 
| 1413154 | SAPBWNews NW2004 / BW 3.5 Add-On FrontEnd Patch 10 - GUI7.10 | 
| 1118754 | NetWeaver 04 / BW 3.5 Frontend Patch delivery schedule |