Looks like a couple of problems there.
Firstly, if you want the Excel list to include more than one column of info then you need to set the named range to include the other columns.
Secondly, your code is not including the wildcard search parameter. You can choose to turn it on for all searches or get the script to include it only if you have a T in the third column. This code change includes it as a variable. Note that I've added a MatchCase = False so a regular search won't be case sensitive and you won't need wildcards turned on.
Code:
Sub Highlight_Words_From_Excel_NamedRange()
'Graham Mayor - https://www.gmayor.com - Last updated - 20 Mar 2020
Const strWorkbook As String = "C:\Users\locktonai\Documents\aaa\WordList.xlsx" 'The workbook path
Const strRange As String = "WordList" 'The named Excel range
Dim arr() As Variant, lngRows As Long, oRng As Range, strFind As String, bWC As Boolean
arr = xlFillArray(strWorkbook, strRange)
For lngRows = 0 To UBound(arr, 2)
strFind = arr(0, lngRows)
Set oRng = ActiveDocument.Range
With oRng.Find
.MatchCase = False
bWC = arr(2, lngRows) = "T" 'assumes named range includes at least 3 columns with no empty cells
.MatchWildcards = bWC
Do While .Execute(findText:=strFind)
oRng.HighlightColorIndex = wdYellow
oRng.Collapse 0
Loop
End With
Next lngRows
lbl_Exit:
Exit Sub
End Sub