I wish to change to change the text color in the %cell based on the following conditions.
1.If color of the highlighted cell is grey %cell text should turn red.
2.If 1.If color of the highlighted cell is green %cell text should turn black.
The highlighted cell's color is dynamic and changes with conditional formatting.
If you highlight cells by conditional formatting you have some rules behind which trigger such formatting. Formulas for such rules could be used to color % part, just apply them to another range.