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Excel - Indirect with locally scoped named reference

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This works:

  1. Sheet1: Summary
  2. Sheet2: VMware Servers
  3. Sheet1 > Cell A1 Value "VMware Servers" - Same as Sheet2's Tab Name
  4. Sheet2 > Cell K45 Value "Dell"

Sheet1 > Cell B1 Value "Dell" via Formula =INDIRECT("'"&$A1&"'!K45")

This does not work and I'm stuck:

  1. Same
  2. Same
  3. Same
  4. Sheet2 > Cell K45 Value "Dell" - Locally Scoped Name "vendor"

Sheet1 > Cell B1 Value "ERROR" via Formula =INDIRECT("'"&$A1&"'!vendor")

Any ideas?

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The issue is with a macro I'm using, I'll open another question for that...sorry