Excel's Edit, Find function compares the find string to the actual contents
of the cells. The actual contents of the cell may be different than the
value of the cell as it is displayed due to formatting. If you select the
cell that displays "20:30" and look at the formula bar you will see what is
actually in the cell. This is the value you must do your Find with. In my
case it is "8:30:00 PM", however if you have different Windows Regional
Settings you may see something different.

--
Jim Rech
Excel MVP