Trying to do things based on color is really a generally bad idea. How are
the font colors in B3/E3 getting set to Black or Blue? If you're using
conditional formatting for them to change color, then use the same rule you
used for conditional formatting to set the value of C4.
And what do we do if both B3 and E3 have blue font? Which value to choose
then?
But if you really want code to get the job done, it's probably going to be
Worksheet_Change() or Worksheet_Activate() event code, and we need a complete
set of rules to create the code from. So far we have
B3 AND E3 are black font, C4="HORSE"
but actually beyond that, no set rules:
B3 AND E3 are blue -- do what with C4
B3 is blue, E3 is black -- do what with C4 (set = B3 I think?)
B3 is black, E3 is blue -- do what with C4 (set =E3 I think?)
By the way, if B3 and E3 font color is being set to Blue (or black) via
conditional formatting, it becomes very difficult to test the font color as
it will show as the basic non-conditional formatted color, so we would need
to know the rules applied to B3 and E3 for the conditional formatting to
write the code -- which leads us back to simply applying the same rules to C4
without using any code at all.