Excel 2013 Upgrade PowerPivot - Excel ran out of resources while attempting to calculate one or more formulas. As a result...

Hello community, 
  I have an Excel Model that that i have been using fine on Excel 2010 64bit. It uses relatively large amounts of data from different sources via
PowerPivot.(Circa 25 different tables, with different sql queries and results totalling around 800K rows at a time)
The main excel sheet then uses cubevalue functions and measures to retrieve this data. 
I upgraded to Excel 2013 32Bit yesterday. On opening the powerpivot within the sheet, i am required to update the powerpivot version, which i do. After updating , i refresh the Powerpivot tables, and return to the main sheet.
The cubevalue functions do return all of their required values, but other formulas in the sheet do not work. Excel gives me the error "Excel rand out of resources while attempting to calculate one or more formulas. As a result, these formulas
cannot be evaluated"
The PC is running a 64bitOS with 16GB ram, windows 7, so i don't think actual memory is the issue.
My second guess was the downgrade from 64bit to 32bit, however a colleague of mine is running a similar PC but with Excel 2010 32bit. The Excel Model works fine on his PC.
I am now lost as to what is wrong. Excel does not even explicitly tell me which formula is causing the issue.
Could it be that the 2013 Excel in general just uses significantly more memory, such that my excel file now cannot run in a 32bit Excel?
Any ideas or help on this would be much appreciated.

There do seem to be things in Excel 2013 that use more memory than Excel 2010 (Excel tables for example).
If you are using PowerPivot then most people recommend 64-bit Excel
Charles Excel MVP The Excel Calculation Site http://www.decisionmodels.com/

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