When you download data from CompuStat, CRSP, or most of the other databases of WRDS you can choose the output format, for example Excel (xls).
Excel 2007 or 2010 isn’t supported by WRDS yet, but you when you are going to work in Excel 2007 or 2010 , you can choose csv (comma delimited text) instead of xls. This format can be opened in Excel. The main advantage: no limit of 65.000 rows as in Excel 2003 (xls).
Maybe the file opens like this:
In that case: select column A, and click in Excel the tab Data. Click Text to Columns and choose Delimited and go the next screen. There mark Comma and click Finish. The data will look like this: