Restrict OpenEvent code to one column

Can I amend the following code such that ONLY when a cell in column B is selected,
formatting that cell is permitted ?

Private Sub Workbook_Open()
    Sheets("Sheet1").Protect Password:="123", _
        DrawingObjects:=True, Contents:=True, _
        Scenarios:=True, AllowFormattingCells:=True, _
        AllowFormattingColumns:=True, AllowFormattingRows:=True, _
        AllowSorting:=True, AllowFiltering:=True, _
        AllowUsingPivotTables:=True, UserInterfaceOnly:=True
End Sub

I particularly wish to allow changes to:
font colour, fill colour, italic, bold and underline.

Thanks.