Error retuned

I think Your formula has a couple of issues: 

The condition for "Orange" (Today > [#"Work Order Received - Target"]) is placed after checking if Actual <= Target, which means it never gets evaluated.
There is an extra space in [#"Work Order Received - Target "], which can cause errors.
The sequence of conditions should be logically ordered to ensure each case is properly checked.

Corrected M:

= Table.AddColumn(#"Added Conditional Column31", "Work Order Color Final", each
    if [#"Work Order Received - Actual"] > [#"Work Order Received - Target"] then "Red"
    else if [#"Work Order Received - Actual"] <= [#"Work Order Received - Target"] then "#00563B"
    else if Date.From(DateTime.LocalNow()) > [#"Work Order Received - Target"] then "Orange"
    else if [#"Work Order Received - Target"] <= [#"Work Order Received - Projected"] then "#50C878"
    else null
)

 Fixes & Improvements:

1. Ensured "Orange" condition is properly evaluated before checking if Target is <= Projected.
2. Used Date.From(DateTime.LocalNow()) to get today's date in Power Query.
3. Removed extra space in [#"Work Order Received - Target "].

Now, this should return:

• "Red" if Actual is after Target
• "#00563B" if Actual is before or equal to Target
• "Orange" if Today is after Target
• "#50C878" if Target is equal to or before Projected
• null otherwise.