I think you will need some VBA event code to have column 2 enter today's
date when column 1 is populated. I'm sure someone can come up with the
code to accomplish this.
However, for your Conditional Formatting, you will need three
conditions, as such:
Condition 1: Formula is: =AND(OR($C1="IH",$C1="CO"),$B1<=(TODAY()-45))
Format as Red fill (I would use a bold yellow font)
Condition 2: Formula is: =AND(OR($C1="IH",$C1="CO"),$B1(TODAY()-45))
Format as Yellow fill (would use a bold black or dark blue font)
Condition 3: Formula is: =ISNUMBER($C1) Format as Green fill (again
bold black or dark blue font)
Does this work for you?
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swatsp0p
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