|It's all working fine for me.|
I don't know about your machine, but my Conditional Formatting is on the Home ribbon, not the Insert ribbon (Excel 2010), but that shouldn't matter.
My steps are:
Click Conditional Formatting
Click Manage Rules
Click New Rule
Click "Use a formula to determine which cells to format"
Put a formula in "Format values where this formula is true" field.
Click a color
Click New Rule to add another rule or Apply to test it or OK to exit
Don't take this the wrong way, but you area actually choosing your Fill colors of Blue and Yellow, right?
Based on your last post, I used these formulas for Blue, Yellow, Green and Green:
The Applies To field reads: =$A$2:$A$510
Try copying and pasting the formulas to make sure that they are right.
You can also try them in a cell and they should return either TRUE or FALSE. That's a trick for testing CF formula without going through the hassle of using the wizard. It they return TRUE in a cell they'll return TRUE in a CF
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