Sparcools,

este código executa o que pretende:

No Userform:

Option Explicit

Private Sub UserForm_Initialize()

Call RemoveCaption(Me)

End Sub

Num Módulo:

Option Explicit

Private Declare Function FindWindow Lib "User32" _
Alias "FindWindowA" ( _
ByVal lpClassName As String, _
ByVal lpWindowName As String) As Long

Private Declare Function GetWindowLong Lib "User32" _
Alias "GetWindowLongA" ( _
ByVal hwnd As Long, _
ByVal nIndex As Long) As Long

Private Declare Function SetWindowLong Lib "User32" _
Alias "SetWindowLongA" (ByVal hwnd As Long, _
ByVal nIndex As Long, _
ByVal dwNewLong As Long) As Long

Private Declare Function DrawMenuBar Lib "User32" ( _
ByVal hwnd As Long) As Long

Sub RemoveCaption(objForm As Object)

Dim lStyle As Long
Dim hMenu As Long
Dim mhWndForm As Long

If Val(Application.Version) < 9 Then
mhWndForm = FindWindow("ThunderXFrame", objForm.Caption) 'XL97
Else
mhWndForm = FindWindow("ThunderDFrame", objForm.Caption) 'XL2000+
End If
lStyle = GetWindowLong(mhWndForm, -16)
lStyle = lStyle And Not &HC00000
SetWindowLong mhWndForm, -16, lStyle
DrawMenuBar mhWndForm

End Sub

Sub ShowForm()

UserForm1.Show False

End Sub

Fonte:

http://www.vbaexpress.com/kb/getarticle.php?kb_id=292

Obrigado, Edson.

Que pena uma complicação dessa pra esconder isso, será difícil pra eu aprender. ((((((

Realmente a programação aí bem avançada... que eu teria bastante dificuldade também... mas nada que um pouco de estudo não ajude a entender...