Well honestly you should know the paths to your files. There isn't a single file on my PC that I have created that I don't know exactly where it is. Be it a tax return, receipt or anything of the sort. I can tell you exactly which drive and folder it is located in as well as where it is located on my backup drive.
So maybe that should be a bit more of a concern than Windows not showing you the item in recent location. You should know where your stuff is. Windows is just a tool to get a job done, it shouldn't be expected to keep track of your stuff for you. You should already be doing that yourself and only using Windows as a way to access it.
So that would be my suggestion as to another way. Start by organizing your stuff so you can find it no matter what. Stop relying on programs and other tools to do what you should already be doing yourself.
That way it wont matter what Excel shows, you will already know where to find the file. That way if, heaven forbid, you had to reinstall Windows, you wont have to rely on something that wont be there to find something you need. You will already know where your files are since there will be no such thing as a recent location at that point. Save yourself time and trouble and organize now.