> Protection Type Descriptions
HIDDEN MODULES
Standard modules will be hidden (classes and userforms will still be visible). The VBA project won't be locked, so any module type can be added and saved. Procedures can be called from hidden modules, but VBA code cannot be read from them using the VBA extensibility library.
UNVIEWABLE PASSWORD PROTECTED VBA PROJECT
Unviewable password protected VBA projects are less secure than the equivalent locked projects, as recovery information has to be maintained within the file.