The first step to take with this feature is simply to find a long/complicated formula and then to click on “Expand Formula” in the PerfectXL Ribbon. This will first separate out your formula a bit, but you can continue clicking expand to show more steps in the formula. A formula can often be incredibly hard to understand when it is too long. The formula becomes much more readable once it has been expanded.
You can also edit the formula while it is expanded, so that you can see more clearly what you are actually changing, and potentially what impact your change will have on the formula as a whole.
Once you have finished working with the formula you can simply use the “Collapse Formula” feature to bring your formula bar back to it’s regular size. If you want your formula to stay expanded or partially expanded you can definitely do this as well, just click and drag the regular formula bar back to it’s original size without collapsing. The formula will stay expanded in the background.
Note: If you do this users will not be able to see the whole formula in their formula bar without scrolling. This can cause some confusion so try to limit this practice to your own sheets.