Microcrystalline Cellulose is basically cellulose and is derived from high quality wood pulp. Although microcrystalline cellulose is indigestible is does not mean that you cannot absorb the nutrients that may be bonded to it.
Microcrystalline cellulose is used as a base for some tablets. It bonds very well with other substances (nutrients). When your body receives a pill that contains microcrystalline cellulose bonded with various nutrients it is capable of separating the bonds. The nutrients break off and are absorbed into your body and the microcrystalline cellulose is left to run its course through your body. This in itself is useful as the microcrystalline cellulose acts like fiber; it helps keep the intestine healthy.
Here is an example of just one of a great many pills that contain microcrystalline cellulose.
http://www.smartbomb.com/enbbc220.html