The flashing and jumping around behavior seems to be attributed to the object activating it's normal interface and highlighting / becoming selected. Furthermore, the jumping around seems to be the Excel tool bar ribbon being displayed instead of the SolidWorks tool bar ribbons so the actual embedded object's location moves around.
Basically I don't want any of that of course, since my add-on is doing the work and doesn't need the tool bar change to Excel or to make the OLE object "editable" (expanded and opened for edit).
To sum it up, if there was a swOleObj.SetActive(True, Invisible) call, that's what I need/want. - Thanks again.