When a worksheet has name that has spaces and a hyperlink to this worksheet is being inserted in Excel, quotes are used to surround the name (ex: 'Sheet 12'!A1) for a valid hyperlink. If quotes are not added, the hyperlink is invalid.
In RadSpreadsheet, it is the opposite: (Sheet 12!A1 is correct, while 'Sheet 12'!A1 is incorrect).
Thus, opening such an exported document from RadSpreadsheet in Excel loads it with incorrect hyperlinks; and importing such an Excel document in RadSpreadsheet loads it with incorrect hyperlinks.

A way to workaround this issue is to modify the hyperlinks on import/export from/to RadSpreadsheet. You can find attached a project demonstrating this approach.