Stalling out of Excel file in Studio 2015

I am not sure what is going on, but I am trying to open an Excel file in Studio 2015 and as soon as I choose the target and source language as well as the Trans Memories, it tries to open and stalls at about 3/4" of a loading bar. I have saved the file as an .xlsx and an .xls. Please advise. I have Excel 2016, and the file is from a project manager.