MS Excel
You can use the format painter multiple times before you turn it off by

You can use the format painter button on ly one time when you click it
Pressing the Alt key and clicking the format painter button
Double clicking the format painter button
Pressing the Ctrl key and clicking the format painter button

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MS Excel
If you need to remove only the formatting done in a range (numbers and formula typed there should not be removed), you must

Click on Remove Formatting tool on Standard Toolbar
From Edit menu choose Delete
Double click the Format Painter and then press Esc key in keyboard
From Edit menu choose Clear and then Formats

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MS Excel
Text formulas:

Replace cell references
Show formula error value
Return ASCII values of characters
Concatenate and manipulate text

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