FWIW, I think most people would argue that given Conditional Formatting is (Super) Volatile (as is the UDF) you are often best served using a Worksheet_Change event to test if the altered (cell(s)) contain a formula or not and formatting the target (cells) accordingly... eg
Or you can make use of the often under utilised SpecialCells(xlCellTypeFormulas) method:
No need to iterate the above... all cells in the Target range are defaulted to Red and then subsequently any formulae cells present within the range have the background colour removed.
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