Also see the Functions > Troubleshooting page.

One or More Invalid References

Every time I save my workbook, the following warning message keeps appearing
A formula in this worksheet contains one or more invalid references. Verify that your formulas contain a valid path, workbook, range name, and cell reference

microsoft excel docs

The most common cause is an invalid reference inside a chart.

To recreate:
Create a new blank workbook
Select cells "A1:B6" on worksheet "Sheet1"
Enter the formula "=rand()" and press (Ctr + Enter)
Display the Insert Tab and select Column, Clustered Column to add a chart to Sheet1
Copy the chart and paste it onto "Sheet2"
Delete Sheet1
Right click on the chart on Sheet2 and choose "Select Data"
Press Edit under Legend Entries
You will see a #REF in the series values reference

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