Excel 2007 : formulas with conditional formatting

hi there

very new to all this, so be gentle.

i know conditional formatting works slightly differently in 2007, hence me posting in here rather than in general questions.

i want to create a formula or format that changes the colour of the font depending on the result. for example
if A2 is greater than A1 then i want the text in the relevant cell to be blue, if A2 is less than A1 then i want it to be in red.
I can do this with conditional formating, but it doesnt take the formula as relative to the cell i apply it to, i have to write the formula again for the new location.
is there either a way to apply colours in an IF formula, or to copy the conditional formatting with a relative formula?

I hope that makes sense.