Can MS Excel change a cell based on the format of another cell?

I want to set the value of one cell based on the background color of another cell. The value should change it the background color changes. Is this possible? How is it done?
Update: I know you can use conditional formating to change the format of a cell based on the VALUE of another cell, or ANY expression. I want to know if you base the conditional formating on the FORMAT of another cell.
Update 2: So far Sara M is leading for Best Answer. I still need time to actually test to be sure this works.
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