How do I apply conditional formatting to text column in a Matrix Visual?

You can make a measure that evaluates the value in the status column and returns 0 or 1, and then set conditional formatting on that measure using a field value or rule in Color Scale.  For example,

ColorMeasure = IF(SELECTEDVALUE(Table[Status])="yes",1,0)

And then make a color rule on the desired column for if it is >=1.

Please see this link for more info - https://radacad.com/dax-and-conditional-formatting-better-together-find-the-biggest-and-smallest-numbers-in-the-column

If this works for you, please mark it as the solution.  Kudos are appreciated too.  Please let me know if not.

Regards,

Pat