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I have done a lot of research and have concluded that we cannot use VBA present under Excel sheet code in SharePoint.

Today I was reading on excel services in sharepoint. I came across User-defined functions under Excel Service Application settings. I believe that User defined functions refer to the Calculations and VBA (am I wrong on this?).

If true, then, does this bring hope that we can use embedded VBA code present into excel sheet in SharePoint also?

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The user-defined functions in Excel Services are managed code, written with Visual Studio and compiled to a DLL.

See Understanding Excel Services UDFs

Excel Web Apps used to display Excel in the browser on a SharePoint site does not support VBA.

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