I released spreadsheet-0.2.0 last night, a port of version .26 of Spreadsheet::WriteExcel. That means there's now formatting (bold, italics, etc). You can find it here if you're curious.
I'm not real keen on adding support for formulas. This is mostly because I have absolutely no need for them personally. It's also because I've never used a parser before - John uses Parse::RecDescent. There's no direct Ruby correlation (yet - Michael Granger says he's mostly done with one), so I'd have to refactor using racc or something.
I'm also getting a little burned out on it now, I think. I'd like to finish my top interface (mostly done for Linux), and port HTML::Table of all things. Of course, there's always that Net::SSH::Perl port I keep dreaming of.