The standard residuals that are calculated by the Analysis ToolPak regression feature are different between the following versions of Microsoft Excel:
Microsoft Excel 97 for Windows and later versions of Excel
Microsoft Excel 95 and earlier versions of Excel
This issue occurs because Excel 97 and later versions of Excel standardize on a definition of variance that does not consider bias in the sample set.
This behavior is by design.
In regression analysis, the residual is the difference between the value that is predicted by the regression formula and the actual value that is measured. The standardized residuals have been adjusted to make sure that they have a standard deviation of 1.