MS Excel - Shared Workbooks: Is it possible to set each person with their own formatting?

Question

For example, the text that Sally adds/changes will be in RED, Bob's adds/changes will be BLUE,....

Answer 1

No,  With a shared workbook, you have to make changes to the formatting as you input data.  Then save it.  Everyone who shares the workbook can see it, but they have to make the changes themselves.