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Default Editing text within a cell

Is it possible to write a macro to changed the properties
of a portion of the text within a cell?
For example I have the following in a cell:
"The word STOP should be red"

Now I want make the word STOP bold, underlined and red.
I understand that I can double-click the cell, select the
word and then press the bold, underline and text color
buttons to make the change.

I would like to select the word and press a single custom
button to make that change.
Is that possible?

Thanks.

David
 
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