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It is a proper programming language.
For #1, there has been research on linting and automated semantic error or smell detection in Excel (e.g., https://github.com/ExceLint/ExceLint). Some features are live in Excel today!
For #2, Excel now supports Python.
I don't think you need to do any conversions, all of the necessary information exists in the spreadsheet.
I know of some Python libraries that do something like this:
https://github.com/bradbase/xlcalculator
https://github.com/dgorissen/pycel
https://github.com/vinci1it2000/formulas
This is what I love in Uiua[1]. That operators can be written as english words instead of unicode symbols. Makes it quite similar looking to functuinal point free code.
[1]: https://www.uiua.org/