Mike,
You have a novel solution to the problem here.
The reason you are seeing this is because the value set on the property sheet is only evaluated one time when the object/class is first instantiated. As Sergey said using the AfterRowColChange event is where you can code for this at runtime.
>I have tried to accomplish this by putting "= field1" into the Status Bar Text property in the PEM sheet.
>
>What this does is show the value of field1 for the first record in the Status Bar. The value does not change as I scroll down through the file.