Brad,
Welcome to the forum!
I don't think you need VBA at all for this, just conditional formatting.
Attached is a modified version of your posted workbook.
The first thing I did was setup two dynamic named ranges, listStore and listItem.
listStore is defined with this dynamic named range formula:
listItem is defined with this dynamic named range formula:
You can view those by going to the Formulas tab and clicking Name Manager.
Next I select sheet 'PLACEMENTS' range D4:M13 and applied the following two conditional formats:
To highlight green (it exists):
To highlight red (it does not exist):
You can view the conditional format rules by going to the Home tab and clicking Conditional Formatting -> Manage Rules
If it absolutely has to be VBA, let me know and I'll provide a VBA solution, but this conditional formatting should work just fine for you.
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