MS excel if function returns wrong value

In MS excel 2010, I have a simple "if" formula in cell M610

It reads:

=IF(L610="","",IF(L610>$M$584,1,0))

Cell L610 has a value of 0.07597 (from formula)

Cell M584 has a value of 0.05 (hard value)

So the if formula should return a value of 1.

Calculations are set to Automatic. The cell (M610) does return a value of 1.

However If I double click in the cell to edit, then press enter, the cell returns a value of 0.

When I change calculations to "Manual", then double click the cell (M610) to edit, then press enter, it returns a value of 1.

What's going wrong?