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Default Excel: Conditional Formatting

Dear sir,

I found out it is very difficult to use the Conditional Formatting when I
meet the case as following:
Cell B2 contains a time:8:0AM and Cell B3 contains another time:10:00AM. My
question is that in cell C1 which contains NOW() which is 9:00AM, and I want
the cell C1 become red color when the time in C1 fall between B2 and B3.

I found out that the Conditional Formatting has no such function at all. Can
you advice?

Many thanks,
Wilchong

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