diff --git a/crates/xlsx/src/sheet_read.rs b/crates/xlsx/src/sheet_read.rs
index 0c09fa2..f6ca944 100644
--- a/crates/xlsx/src/sheet_read.rs
+++ b/crates/xlsx/src/sheet_read.rs
@@ -454,7 +454,8 @@ fn read_cell(cx: &mut Ctx<'_>, sheet: &mut Sheet, st: &mut RowState, c: &El, pos
 }
 
 fn read_formula(cx: &mut Ctx<'_>, st: &mut RowState, f: &El, pos: CellRef, dynamic: bool) -> Option<Formula> {
-    let text = f.text.trim();
+    let model = from_file(f.text.trim());
+    let text = model.as_str();
     match f.attr("t").unwrap_or("normal") {
         "shared" => {
             let si = f.attr_u32("si")?;
diff --git a/crates/xlsx/src/sheet_write.rs b/crates/xlsx/src/sheet_write.rs
index b336096..a58df0b 100644
--- a/crates/xlsx/src/sheet_write.rs
+++ b/crates/xlsx/src/sheet_write.rs
@@ -35,10 +35,12 @@ fn cf_op_name(op: CfOperator) -> &'static str {
     }
 }
 
-/// Valid table name: letters, digits, `_` and `.`, starting with a letter or `_`.
+/// Valid table name: letters, digits, `_` and `.`, starting with a letter, `_` or `\`
+/// (Microsoft "Names in formulas" rules).
 fn table_name(name: &str, used: &mut HashSet<String>, n: u32) -> String {
-    let mut s: String = name.chars().map(|c| if c.is_alphanumeric() || c == '_' || c == '.' { c } else { '_' }).collect();
-    if s.is_empty() || !s.starts_with(|c: char| c.is_alphabetic() || c == '_') || gridcraft_core::CellRef::parse(&s).is_some() {
+    let mut s: String =
+        name.chars().enumerate().map(|(i, c)| if c.is_alphanumeric() || c == '_' || c == '.' || (i == 0 && c == '\\') { c } else { '_' }).collect();
+    if s.is_empty() || !s.starts_with(|c: char| c.is_alphabetic() || c == '_' || c == '\\') || gridcraft_core::CellRef::parse(&s).is_some() {
         s = format!("Table{n}");
     }
     let mut out = s.clone();
@@ -56,12 +58,7 @@ fn table_columns(t: &Table) -> Vec<String> {
     let mut used = HashSet::new();
     (0..w)
         .map(|i| {
-            let base = t
-                .columns
-                .get(i)
-                .map(|c| c.name.replace(['\r', '\n'], " "))
-                .filter(|n| !n.trim().is_empty())
-                .unwrap_or_else(|| format!("Column{}", i + 1));
+            let base = t.columns.get(i).map(|c| c.name.clone()).filter(|n| !n.trim().is_empty()).unwrap_or_else(|| format!("Column{}", i + 1));
             let mut name = base.clone();
             let mut k = 2;
             while !used.insert(name.to_lowercase()) {
diff --git a/crates/xlsx/src/tests/roundtrip.rs b/crates/xlsx/src/tests/roundtrip.rs
index d2ecec7..920c8d8 100644
--- a/crates/xlsx/src/tests/roundtrip.rs
+++ b/crates/xlsx/src/tests/roundtrip.rs
@@ -869,3 +869,59 @@ fn scroll_position_round_trips_with_and_without_frozen_panes() {
     let (xml, _) = sheet1_xml(&write_xlsx(&wb).unwrap());
     assert!(xml.contains(r#"topLeftCell="A2""#), "{xml}");
 }
+
+/// Excel stores LET/LAMBDA parameters as `_xlpm.name`; the model shows bare names.
+#[test]
+fn let_lambda_parameters_drop_xlpm_on_read() {
+    let mut wb = Workbook::new();
+    let s = wb.sheet_mut(0).unwrap();
+    s.cells.set(at("A1"), Cell { value: Value::Number(2.0), ..Cell::formula(Formula::new("LET(x,1,x+1)")) });
+    s.cells.set(at("A2"), Cell { value: Value::Number(6.0), ..Cell::formula(Formula::new("LAMBDA(a,a*2)(3)")) });
+    let mut arr = Formula::new("MAP(B1:B2,LAMBDA(v,v+1))");
+    arr.array = Some(rr("C1:C2"));
+    s.cells.set(at("C1"), Cell::formula(arr));
+    let bytes = write_xlsx(&wb).unwrap();
+    let (xml, _) = sheet1_xml(&bytes);
+    assert!(xml.contains("_xlfn.LET(_xlpm.x,1,_xlpm.x+1)"), "{xml}");
+    assert!(xml.contains("_xlpm.v"), "{xml}");
+    let (back, _) = read_xlsx(&bytes).unwrap();
+    let sh = back.sheet(0).unwrap();
+    let text = |a: &str| sh.cell(at(a)).and_then(|c| c.formula.as_ref()).map(|f| f.text.clone());
+    assert_eq!(text("A1").as_deref(), Some("LET(x,1,x+1)"));
+    assert_eq!(text("A2").as_deref(), Some("LAMBDA(a,a*2)(3)"));
+    assert_eq!(text("C1").as_deref(), Some("MAP(B1:B2,LAMBDA(v,v+1))"));
+}
+
+/// A line break in a table column name (and its header cell) survives; a
+/// leading backslash in a table name is legal and kept.
+#[test]
+fn table_newline_column_and_backslash_name_survive() {
+    let mut wb = Workbook::new();
+    let s = wb.sheet_mut(0).unwrap();
+    s.set_value(at("A1"), Value::text("Handle\nBars"));
+    s.set_value(at("B1"), Value::text("Name"));
+    s.set_value(at("B2"), Value::text("x"));
+    let col = |n: &str| TableColumn { name: n.into(), totals: TotalsFn::None, totals_label: None, formula: None };
+    s.tables.push(Table {
+        id: 1,
+        name: "\\_Prime.1".into(),
+        range: rr("A1:B2"),
+        header_row: true,
+        totals_row: false,
+        columns: vec![col("Handle\nBars"), col("Name")],
+        style: String::new(),
+        banded_rows: true,
+        banded_cols: false,
+        first_col: false,
+        last_col: false,
+        filter_button: true,
+    });
+    s.cells.set(at("D1"), Cell::formula(Formula::new("COUNTA(\\_Prime.1[Name])")));
+    let (back, _) = read_xlsx(&write_xlsx(&wb).unwrap()).unwrap();
+    let s = back.sheet(0).unwrap();
+    assert_eq!(s.tables[0].name, "\\_Prime.1");
+    assert_eq!(s.tables[0].columns[0].name, "Handle\nBars");
+    assert_eq!(s.value(at("A1")), Value::text("Handle\nBars"));
+    assert_eq!(s.cell(at("D1")).and_then(|c| c.formula.as_ref()).map(|f| f.text.as_str()), Some("COUNTA(\\_Prime.1[Name])"));
+    assert!(gridcraft_formula::parse("COUNTA(\\_Prime.1[Name])").is_ok(), "backslash table name parses as a structured reference");
+}
diff --git a/docs/file-format-parity.md b/docs/file-format-parity.md
index 06dd452..d336082 100644
--- a/docs/file-format-parity.md
+++ b/docs/file-format-parity.md
@@ -1,6 +1,6 @@
 # File-format parity
 
-> **Last reviewed:** 2026-10-11 · **Last updated:** 2026-10-11 · **Change:** minor (`.xls` BIFF8 import, #121) · **Target:** Microsoft Excel (Microsoft 365), Excel for Mac 16.113.4
+> **Last reviewed:** 2026-10-11 · **Last updated:** 2026-10-11 · **Change:** minor (XLSX round-trip: `_xlpm.` LET/LAMBDA parameters, multi-line table columns, `\`-prefixed table names) · **Target:** Microsoft Excel (Microsoft 365), Excel for Mac 16.113.4
 
 Every format Excel opens or saves, with GridCraft's read and write support, fidelity and tests.
 Part of [target-app-parity.md](target-app-parity.md). **File formats: ~50% ready, 80–120 h**
@@ -76,6 +76,7 @@ refresh. Counted under features (Get & Transform, ~10% ready), not here.
 
 | Date | Change | Summary |
 |---|---|---|
+| 2026-10-11 | minor | XLSX: cell/shared/array formulas read through the file→model conversion (`_xlpm.` LET/LAMBDA parameter prefixes stripped); table column names keep line breaks; table names may start with `\` |
 | 2026-10-11 | minor | `.xls` (BIFF8) import: values, formulas, number formats, merges, sizes, names (#121) |
 | 2026-10-11 | minor | XLSX pass-through: custom XML, external links, connections, query tables, printer settings, form/ActiveX controls, OLE objects, sheet backgrounds kept on save (#330, #324) |
 | 2026-10-11 | minor | XLSX: threaded comments and persons parts written (they came back as notes before); note visibility read from VML (#300) |