According to the VB browser in Excel, the Cells function returns a "cell as Range". So it's returning a valid Range object, I think. I've used the Cells function every once in a while, although more often I use the Range function. But even specifying a single cell it works just fine.

For example: I've frequently used the following to get a value: $value = $worksheet->Range("B1")->{Value}; and I get the same results from the code my $value = $worksheet->Cells(1,2)->{Value};