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Default Macro Question

I run the following macro commands and they work fine. It simply looks at the
cell and if it matches the text in this case B.S. it replaces it with B.S.
with the cell color coded in this case color 3. My question is that this
macro requires that the cell entry be B.S., how could I look at the cells
value as opposed to what's entered. I would prefer that the cell receive the
B.S. value by using a formula that picks up the B.S value. But the macro
below at this time simply sees the formula and not the value.

Any help would be greatly appreciated!

Range("M7:CK100").Select
Application.ReplaceFormat.Interior.ColorIndex = 3
Selection.Replace What:="B.S.", Replacement:="B.S.", LookAt:= _
xlPart, SearchOrder:=xlByRows, MatchCase:=False,
SearchFormat:=False, _
ReplaceFormat:=True
 
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