In addition to being able to show and hide content using Condition Formatting, you can also use the feature to dynamically change the presentation of your view, based on data in the associated data source. 

Example: for the view of the "Product Sales" list, let's say you want to highlight the background of any product who's "Units Sold" exeeds 500.

The first step is to select the object you want the formatting to apply to. In this case, we need to choose the "Product" table cell:

The easiest way to make this selection is to click the <td> tag in the "Quick Tag Selector", which is the bar at the top of design view showing the tag hierarchy for the current selection:

Once you have the cell selected, click Data/Cell Formatting to bring up the "Cell Formatting" task pane. From there, choose Create/Apply Formatting. This will bring up the "Condition Criteria" dialog, where you can define the condition under which the content should be formatted. For this scenario, we want to highlight the background when "Units Sold > 500":

Once you have pressed ok in the "Condition Criteria" dialog, the formatting dialog will come up, allowing you to choose what formatting to apply. In this case, we want to set the background to yellow.

That's all there is to it. Exit out of formatting, and your view will now reflect the formatting you have chosen: