Cells in Spreadsheet are automatically underlined on second save or when the file is loaded dynamically.
Code to reproduce:
string filePath = Server.MapPath("Test.xlsx");
Telerik.Web.Spreadsheet.Workbook wkb = Telerik.Web.Spreadsheet.Workbook.Load(filePath);
wkb.Save(filePath);
The issues will be fixed in the upcoming R2 2018 release, due in May 2018.