It should be possible with VBA code, but an easier option might be
conditional formatting. Is there anything specific about the value in A1
which determines the colour? Could you use this property to set a formatting
condition (eg is it red for negative numbers, black for positive. Is it
anything to do with the content eg part of the text, length of the string
etc)?
The color of the text is completely independent of its value. The same
number is red in some cells, and black in others.
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