InStrB method, just for counting one letter, is much faster than Split or Replace.
Code:
Public Function CountLetters(ByRef Text As String, ByRef Letter As String) As Long
    Dim lngA As Long, strL As String * 1
    strL = Letter
    strL = LCase$(strL)
    lngA = InStrB(Text, strL)
    Do While lngA > 0
        CountLetters = CountLetters + (lngA And 1)
        lngA = InStrB(lngA + 1, Text, strL)
    Loop
    strL = UCase$(strL)
    lngA = InStrB(Text, strL)
    Do While lngA > 0
        CountLetters = CountLetters + (lngA And 1)
        lngA = InStrB(lngA + 1, Text, strL)
    Loop
End Function
InStrB is faster than InStr, but requires extra tricks. In this case, (lngA And 1) to ensure we found a start of character.