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The text discusses formula injections, also known as CSV Excel macro injections, in web applications that allow users to create and export Microsoft Excel spreadsheets. Penetration testers or hackers can inject malicious code into the spreadsheet, which, if not sanitized by the web application, can expose other users to attacks when opening the spreadsheet. These vulnerabilities are commonly found in web applications with export spreadsheet functionality, leading to potential security risks such as code injection.