how to use the Add graphic table element option to add an excel table to DDPs

[KenLucas]

For those of us desiring to add a dynamically linked excel table to a series of data driven pages there is an option, add graphic element, available if you have the production mapping extension installed and have an arc Edititor or higher license.  Apparently, there is no toolbar, you just enable a DDP and do insert - add graphic element. The option will see both excel & DBFs in the arcmap ToC. However, the tool wizard, apparently, only works with DBFs. Then, when I attempt to create a table on the DDP, using the option's wizard and specifying the DBF,  I don't see my table data display on the page.
Has anyone used this tool, successfully, to add a DBF table onto a layout view DDP?
Ken

[KenLucas]

Clint,
   Your explanation, about the tool not seeing Excel, makes perfect sense to those of us who know ESRI well.  Thank you.
To sum up: With the add graphic element, I can only see the DBF files I have in the MXD ToC.  The challenge for us is: Microsoft Excel no longer allows saving as the DBF format.  Can you suggest how I might make many global changes to fields, in an exported DBF, and then get that data joined back to my layer, so I can update the attribure fields with the field calculator?
Ken