Conditinal Formatting with a Formula

I'm getting Error msg:
Cannot open file because extension is different than format (or so).

But basically (assuming data starts with row 2, mark a cell (in row2) which has to be formatted and appy rules based on formulas)
yellow

Formula:

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(and stop after this condition met)
red

Formula:

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green

Formula:

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if more tha one cell in a row is to be formatted use mixed $G2 etc. addressing in all formulas

PS. As you can see =IF is not necessary. Of course you could write for instance red as

Formula:

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But is it more readable? Longer - for sure, so if you are payed per character ... go for it