Excel allows defined functions to be executed in Worksheets by a user. Instead of a formula based on the color of a cell, it is better to write a function that can detect the color of the cell and manipulate the data accordingly. Some knowledge of programming concepts such as if-else conditions and looping may be useful to write user defined functions. To write a function to determine the color of a cell, the Interior.Color object can be used.
If you are looking for a formula, there isn't an inbuilt Excel formula existing already that can do this, but you can create your own function to do it:
Public Function dispColorIndex(targetCell As Range) As Variant
Dim colorIndex As Long
colorIndex = targetCell.Interior.Color
If (colorIndex = 255) Then
dispColorIndex = "YES"
dispColorIndex = "NO"