I have set up a table that is filled in with two possible types of
information. Which type you want is selected from a drop down list created
using Data Valuation. If the user selects "Dollars" from the list I want the
data formatted as a number with a 1000 separator and no decimal places. If
the user selects "Percentage" I want the data formatted as a number with no
separator and 1 decimal place.

I have the conditional format set up and it works... sort of. When I select
a different information type the format of the cells does not immediately
change. Upon doing two more operations anywhere in the worksheet outside the
area I'm using, the table magically updates its format to be correct. By
operations I mean, for example, typing a number or formula in any cell or
deleting any cell. Which cell it is doesn't matter, and it's always exactly
2 operations later that the format updates.

I have restarted Excel and made sure my calculation is set to automatic.
Any other suggestions? Thank you!