To make it work with Excel 2011, add DoEvents
after updating the statusbar.
Sub testStastusBar()
Application.DisplayStatusBar = True
Application.StatusBar = "Now processing...."
DoEvents '<~~ Add This
Dim n As Integer
For n = 1 To 10
Application.Wait (Now + TimeValue("0:00:01"))
Debug.Print n
Next n
Application.StatusBar = False
End Sub