Here is the code, same that can be found in the workbook attached, which works with the event Workbook_BeforeClose.
The code will execute and change fonts and interior color on column D when you hit the close button on the workbook.
You have to complete the arrays, i noticed that you have in the workbook more values than in your first message. Remember that the arrays must have the same number of elements.
The code works on active sheet, so , if you want to run the code on another sheet, you just have to activate that sheet before closing the workbook.
Code:
Private Sub Workbook_BeforeClose(Cancel As Boolean)
Dim SearchArr, FontColorArr, InteriorColorArr As Variant, i, Cell As Integer
SearchArr = Array("BLACK", "BLUE", "CADIAC ALERT", "GREEN", "GRAY", "ICE ALERT", "ORANGE" _
, "PEDS CODE BLUE", "PINK", "PURPLE", "RAPID RESPONSE", "RED", "STEMI ALERT", "STROKE ALERT" _
, "WHITE", "YELLOW")
FontColorArr = Array("2", "2", "2", "1", "1", "1", "1", "1" _
, "2", "2", "1", "2", "2", "1", "1", "1")
InteriorColorArr = Array("1", "5", "30", "4", "16", "37", "46", "8" _
, "7", "13", "20", "3", "53", "22", "2", "6")
Application.ScreenUpdating=False
For Cell = 3 To 350
For i = LBound(SearchArr) To UBound(SearchArr)
If InStr(1, ActiveSheet.Cells(Cell, "D").Text, SearchArr(i), vbTextCompare) > 0 Then
ActiveSheet.Cells(Cell, "D").Interior.ColorIndex = InteriorColorArr(i)
ActiveSheet.Cells(Cell, "D").Font.ColorIndex = FontColorArr(i)
End If
Next i
Next Cell
Application.ScreenUpdating=True
End Sub