Private Sub CommandButton1_Click()
        Application.ScreenUpdating = False
    If CommandButton1.Caption = "Macro ON" Then
        CommandButton1.Caption = "Macro OFF"
        CommandButton1.ForeColor = &HFFFF&
        CommandButton1.BackColor = &H808080
        Range("AA1").Value = ""
    Else: CommandButton1.Caption = "Macro ON"
        CommandButton1.ForeColor = &HFFFFFF
        CommandButton1.BackColor = &H800000
        Range("AA1").Value = 1
    End If
End Sub
Then BigBas' code adjusts to watch AA1 as so:
If Range("AA1") = 1 then
  'Run the code
End If