If you have a field [strStatus] in a table which can have values of "On" or "Off", and you want "Off" records to appear in Red text and "On" records to have Green text, this is the FAQ for you. Unfortunately, these values cannot be edited.
Make several copies of the field you want coloured, give them all the same size and position. Give them sensible names, like txtStatusOn, txtStatusOff. Make each one transparent, with a foreground colour set to the colour you want. You might want to make the fields disabled and locked. In each controls Control Source put:
for the Green one, and
for the Red one. These field will be empty unless the IIf expression is True, in which case it would appear as the text in the required colour.
Now open the form. All Status fields with a status of On will be in Green text, and all others will be in Red.