Change date to word "present" change to red

How would I create a macro that would change dates to the word " present" when that date becomes todays date and then change it to red text? For exxmple: A future date has been added to a list of dates. I want the date to change to the word "present" when that date in "real time" is reached and then color it red that way I can search the list for the word "present" to find the projects that are due.

Hope that makes sense. Thank you for any help that you can provide.

Thank you for your reply RoyUK.
I followed your link, but I didn't notice how it would change the date, i.e. 09/09/2007, to the word "present" automatically. The spreadsheet that I am using and that other add to is most often on the sort by "present" value in the date column. I want the column to update the future dates, previously listed, to now read "present" as that date is reached. 09/15/2005 changes to "present" as the date 09/15/2005 is reached. That way it will always list the current projects that need to be completed until they are deleted.

Again thank you for your assistance.