Jim J. wrote...
Is there a method to perform the following function?:
I) Using a list of values (In my case, these are text. For the discussion,
let's assume they are colors in 3 place format, like BLK, BLU, BRN, GRN, GRY,
RED, WHT, etc.).
II) Look in a cell, and see if any of those values exist (NOTE: There will
never be more than one of these values within a cell).
III) If any one of these values is found within the cell, state which value
it is.
....

=LOOKUP(2,1/COUNTIF(YourCellHere,"*"&YourListHere&"*"),YourLis tHere)