We have the need for some of our elements to be formatted automatically in thousands (3.5K) or millions (4.23M). We don't see this as a format option in the cube or in the report in Excel cube report. We can't convert it to a string because we still need it to calculate/sum. Is there a setting or option that provides this?
0,,.00;(0,,.00) should format the number as millions with two decimal places. Consider installing Report Builder 2.0. It has a very nice formatting dialog to generate format strings such as show values in thousands, millions, etc.