If I understand what you're asking for, it can't be done.
You want Workbook1 to have a sheet in it named Sheet1
Then in Workbook2 you also want a sheet named Sheet1
(and actually the sheet names could be different)
And then if you make a change in Workbook1, Sheet1 you want those
changes to show up in Workbook2, on Sheet1
and at the same time you want it so that if you go the other way,
Make change in Workbook2, Sheet1 and have them
show up in Workbook1, Sheet1
You're trying to set up a closed loop. You can have one sheet in one book
echo the content of another sheet in another book, but you can't have 2
sheets in 2 books each trying to reference/change one another in mirror
fashion.
Besides if you do that, which one becomes the 'master' copy? Without one or
the other as being the source master, you'd quickly lose control of the whole
thing: you make a change in one workbook, I make a change in the other ...
who's change do you accept/use?
I can think of some exceptions to what I've said and even some work-arounds,
but a lot of that would depend on how you plan on using all of this. If you
are trying to have two (or more) people in separate locations be able to
update the information in one workbook, then you might look into sharing a
single workbook. Look under Help in Excel and search for
Share a Workbook
you'll find instructions for setting that up there.