From Edit Mode, you can switch to Enter Mode by Pressing the F2 key once. From Point Mode, you can switch to Enter Mode by Pressing the F2 key twice. 
From Point Mode, you can switch to Edit Mode by Pressing the F2 key once.If you are aware that Excel starts working directly in Point Mode in the 3 cases described above, and you intend to manually edit the formula or the chart series, all you have to do is press F2 once, and Excel will listen to you like a “well trained puppy”…
My opinion is, because there is no way to manually switch to Point Mode (pressing F2 more than once will switch only between Enter Mode and Edit Mode), and in most scenarios you will refer to a worksheet range, Excel is simply trying to help… Just like many others, I asked myself: Why does Excel starts operating directly in Point Mode in these cases?
When creating or editing a chart series. When creating or editing a Conditional Formatting formula,. When creating or editing a Defined Name, while working inside Refers To field,. The cases where Excel will start operating directly in Point Mode are: (may be more cases, if you have experienced such unusual behavior in situations not listed here, please let us know) For example if the Point Mode is shown in the Status bar and you use the arrow keys or you click on a cell, Excel will insert that reference where your cursor pointer is, no matter if it’s in the middle of the worksheet name, for example. If you’re not paying attention to the Status bar, and which Mode you are in, you could get unintended results in your formula. In some cases, Excel will start operating directly in Point Mode, even if you click inside the formula, with the intention to manually edit the formula. Sometimes, Excel works in mysterious ways: The action starts when you start editing anything, Excel will start operating in one of the 3 Input Modes, depending on your actions. In Ready Mode, as you already know, nothing happens. When you edit an Excel worksheet cell, a defined name formula, a conditional formatting formula, or a chart series, the Excel application can operate in 3 Input Modes: 
no Conditional Formatting formula is edited, or:. The normal state of worksheet cells is the Ready Mode.
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