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Default Conditional Formatting within a Time Sheet

Can someone help me with this one:
I am using a Excel time sheet with input in time format. I would like a
formula that can extract out the minuets and dived it in to three categories:
1-10 minutes and 31-40 minutes conditional formatting in red color
11-20 minutes and 41-50 minutes conditional formatting in yellow color
21-30 minutes and 51-59 minutes conditional formatting in green color.

Example: Time 02.08.00 should be stript down to 00.08.00 and then color the
cell in red.

 
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