I am able to use this feature on my machine using MS Access 2007.
- On the Ribbon, select External Data
- Select the "Text File" option
- This displays the Get External Data Wizard
- Specify the location of the file you wish to import
- Click OK. This displays the "Import Text Wizard"
- On the bottom of this dialog screen is the Advanced button you referenced
- Clicking on this button should display the Import Specification screen and allow you to select and modify an existing import spec.
For what its worth, I'm using Access 2007 SP1