There may be a more elegant way to do this but this is my initial thoughts on how to solve it
Code:
Sub ChickenOrEgg()
Dim aRng As Range, rngHigh As Range, rngTurq As Range
Set aRng = Selection.Range
aRng.End = ActiveDocument.Range.End
With aRng.Find
.ClearFormatting
.Highlight = True
.Text = ""
.Replacement.Text = ""
.Forward = True
.Wrap = wdFindStop
.Format = True
.MatchCase = False
If .Execute Then Set rngHigh = aRng.Duplicate
End With
Set aRng = Selection.Range
aRng.End = ActiveDocument.Range.End
With aRng.Find
.ClearFormatting
.Font.ColorIndex = wdTurquoise
.Text = ""
.Replacement.Text = ""
.Forward = True
.Wrap = wdFindStop
.Format = True
.MatchCase = False
If .Execute Then Set rngTurq = aRng.Duplicate
End With
If rngHigh Is Nothing Then
If rngTurq Is Nothing Then
MsgBox "No hits for either"
Else
rngTurq.Select
End If
Else
If rngTurq Is Nothing Then
rngHigh.Select
Else
If rngHigh.Start < rngTurq.Start Then
rngHigh.Select
Else
rngTurq.Select
End If
End If
End If
End Sub