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What is the difference between the Activate event and the activate method?  Perhaps my confusion lies with the bigger picture.   How do I know I'm dealing with an event or a method.  What's the difference between a event and a method?
Very confusing.

I like the discussion in duncanb7's MSDN link.

Aother way of distinguishing objects, methods, properties and events is by analogy to grammar.

Objects are nouns. You can act on them with methods or describe them with properties.

Properties are adjectives or adverbs. They describe an object and have values that may be read or set. Properties are always associated with a specific object. Even if several objects have a certain property, you have to read or set that property one object at a time.

Methods are verbs. Methods are also associated with a specific object, on a non-exclusive basis just like properties.

Events are the result of an action by the user or by a macro. The event occurs when the action finishes, such as selecting a cell or pushing down a mouse button. Some events can be trapped--this means they trigger an event sub to run (if one has been coded). Even though many different events are possible, not every possibility has an event sub. So Excel VBA has event subs that run when the user selects a cell or changes its value--but not after changing its format.

Take a closer look from MS for the concept

http://msdn.microsoft.com/en-us/library/ms172576%28VS.80%29.aspx

Another way of looking at is that an Event is a handle that VBA supplies when something happens so that you can if you like add code to be executed when the event happens.