Is there a way to trigger an if statement based on the formatting of a
cell as opposed to the value in the cell?

I have a worksheet that displays channel frequencies in a grid
corresponding to various cities. All locations have each frequency,
but in some cities a given frequency can be in stereo or mono. In the
grid, a location with a frequency in stereo is denoted by a different
colour of text.

I would like to run an if statement from a macro that goes something
like:

if(textcolor(A1)=blue, true, false)

I assume that this isn't possible, but I am not confident enough to
give up on it.

Any help would be appreciated,
Thanks,
TK