Is ther a way I can have certain choices in a value list Formatted differently than other choices? Example:

Task status field - "In Prgress" (formatted in black text),

"Overdue" (Red text in Bold)

I have tried entering Textcolor tag directly in the value list but it didn't work.

Thanks for any replies....

try using two fields. one for the value list and one for display. Overlay the two fields so that when you click in the value list comes and you make the selection. Then in the display field you can use a calculation to get the value in the value list field and apply the color tags into in an if or case statement.