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Unique cells referenced in cross-sheet formulas Limit - How is this calculated?

I received an error today that stated

"Some cross-sheet formulas can't be updated, because this sheet has more cells referenced from other sheets than the maximum allowed (100000)."

Its a pretty generic message that doesnt tell me which formula is not being updated nor which cross reference formula is causing me to hit this limit.

Does anyone know more about how this limit is calculated? My main sheet has about 250 rows. Each row has 14 columns that cross referenced from 5 other source sheets. I use the Index/Match formula for the cross referencing. That is only about 3,500 cross references which is under the 100,000 limit.

Does it matter how many rows are in the reference sheet to add to this calculation? Does it matter how many columns are in each of the source sheets?

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