In version 4.3, the default vertical cell alignment was at the bottom of the cell. In versions 4.5 and 4.6, the default vertical cell alignment is center. I think it should be bottom as that is how Excel behaves. I’m using Excel 2003.
Yes it is center aligned (Vertically) in the new version (4.6), Ok, we will check if we can revert back to bottom aligned (Vertically).