You can use a column's DynamicBackColor/DynamicForeColor properties. What are conditions for the cell to be highlighted?
Check also http://www.sweetpotatosoftware.com/SPSBlog/PermaLink,guid,878c1b11-1770-405c-92ea-cdbe2c838dfa.aspx for an alternative way

>Is it possible to set the color of indivdual cell in grid (not whole row, but one cell) based on condition?
>I tried to set textbox's Back/Forecolor properties and they were set but the cell is displayed with these colors
>only when i click on it. I need to have this cell to have specific colors even if it is not focus. Can this ever be done?