User has a table with columns of type BIT. When the user exports the table data to Excel 2007 all the BIT columns whos value was true (checked) become false in the Excel output. All the BIT columns that were false (unchecked) become true.
WORKAROUND:
Export to an Excel instance, instead of to an Excel file.
STATUS:
This issue is fixed in Toad for SQL Server 5.5. This version can be downloaded at https://support.quest.com/softwaredownloads.aspx?pr=268441797.