I finally got a reply from a support representative from SWING Software and it appears that SWING Integrator doesn’t support writing formulas to Microsoft Excel. I think this is a real shame shame since it restricts its use dramatically or at least makes some functionality very difficult to implement. Of cause there might be a valid reason for this restriction.
Anyways I reimplemented the needed functionality by doing all the formatting in LotusScript. Apart from the solution being a lot longer (more lines of code) and taking more time to implement I solved the problem which is what really counts.