I wouldn't do this, but maybe you could add a textbox from the Drawing toolbar
over that cell and type and format the text the way you like.
If you right click on that textbox, you can choose Format Text Box
and on the colors and lines tab, you can specify the transparency that you want.
But I think this is a bad idea--as well as the strikethrough font.
I'd use an adjacent column with some sort of indicator that would indicate Void
(and use format|conditional formatting to apply the strikethrough font to the
original cell).
Then I can use =countif()'s, filtering, sort, pivottables, ... against that
data.
If the cell that is getting the strikethrough font is A2, I'd use B2.
And then select A2:Axxx (lots of rows????)
Format|Conditional formatting (xl2003 menus)
Formula is: =B2="void"
and change the font to strikethrough.