You can do it with code builder in each group of the report where the fields are.
1. In you report design "right click" on the Group Header (or Detail tab, or Reports Footer Tab) or wherever the fields are that you want to be dynamic.
2. Click "Build Event" then "Code Builder" and Access will give you a start and end of function. eg:
Private Sub GroupFooter1_Format(Cancel As Integer, FormatCount As Integer)
End Sub
In this function: i.e. before the "End Sub" you give your criteria and what you want to be done.
So on my assumption that your field text box is called "STATUS" you need to have:
If Me.STATUS.Value = "System Down" Then
Me.STATUS.ForeColor = RGB(255, 0, 0)
Me.STATUS.Bold = True
End If
try this