Hi Narayan,
Exactly the culprit.  My Excel 2008 for the Mac only allow 3 rules and as a result the #4 got bumped out, leaving #2 and #3 in exhibit and #1 not present.  Hence I would not be able to introduce the #1, unless I give up the #2.  Hmm.   I would rather utilize the rows with 1UP and AS cells and only 1 rule is employed there.  
In my CF dialog I have as follows:
1. Cell Value Is Equal to ='1UP' (returns as a Light Grey)
2. Formula is =AND($AW31.0,$AW31=COLUMN(N31)-2 (returns as a Lemon Yellow)
If I add Rule #2 to the CF dialog above, would those two rules cancel each other out as a result?   Should you have an alternate idea?
If I don't hear from you shortly, I call it a night.  See you early in the morning.
Mark