I have tested your solution and this is not working? Once I insert the condition the target cell A1 remains TRUE or shaded Blue for any value chosen in column B?
Please note that I have a drop down box in Column B with a number of outcomes but that shouldn't affect the formula? I even changed all the outcomes in the list so that none contain the word TRUE and still A1 remained Blue?
The logic seems sound but not sure why its not working?