Conditional Formatting Dependent on Values of Two Cells

Try

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eemiller1997,

Appreciate you had tried yourself,

but, since you post a lot and registered long time ago,
You should learned how the formula work.

the text between "" sign is assume as text instead of function a formula.
and excel would not understand "and", but it understand =and([logic 1], [logic 2]).

="B11=V8 AND C11="<>""

should be

=AND(B11=V8,C11="<>")

it return true if and only if both are same TRUE

AND(TRUE,TRUE) return to TRUE
AND(FALSE,FALSE) return to FALSE
AND(FALSE,TRUE) return to FALSE
AND(TRUE,FALSE) return to FALSE

if you want to have reverse result you may add NOT() (ie =NOT(AND(B11=V8,C11="<>")) )in front of formula. it change TRUE to FALSE

Not sure what you mean by it formatting ALL the cells. Cells affected are defined in your conditional format, so it implies you set it up to affect all the cells.

sorry for that, this one is not valid formula,
=AND(B11=V8,C11="<>")

the beside blank formula should be,
=AND(B11=V8,C11<>"")

and base on your request/file,
I believe is F8 instead of V8 and is need to format the blank one,

the formula should be,

Formula:

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or

Formula:

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PS: Create format at B1 to avoid error,

I have a theory that you have your cell referencing (absolute vs relative) is not set up correctly. As it stands, for the first conditionally formatted cell, it will look in cells B11, C11, and V8. The next conditionally formatted cell will offset appropriately. Maybe you have absolute references?
As @BoredWorker states, the check for C11="<>" is likely not what you want. That will check if the cell strictly contains the text <>, not if it is blank or not. ISBLANK is the formula to use. However, the cell must truly be blank, if it has a space in it (it looks blank but it really isn't), or even a formula that calculates to "" (e.g. IF(TRUE,"",5)) then isblank will return false.