OK. Conditional formatting is just about the only thing that allows you to have any difference in the layout of records on a continuous subform - but, you are right it can't make things visible or not - it can only change text colors and properties, etc...
There is one other way that I know of that will work only if you have Access 2007. In 2007, each record on a continuous subform can have a unique image.
Here's how to do it:
1) Create a table with an attachment field and and ID field. On the record with ID 22 (or any number you want), add your Pencil image as an attachment.
2) Create a query that links your data table with your new image table.
3) Set your continuous forms recordsource to the new query.
I attached a sample database showing how this can be done.
Let me know if it will work for you...
Evan