Hi again brian5857,
I don't believe there is an autoshape that is square (rectangular?) on the outside and transparent circle on the inside. But if you want the transparent middle so that the conditional formatting area fill of the cell will show through (as a colored circle) this can be accomplished other ways. For example, rather than using conditional formatting use a filled circle in each cell (or block of cells) and use Worksheet_Change event code to change the fill color of the circle depending on a cell's value.
If you'd like to try this, but not sure how, let me know and I'll provide the code. You'll just have to provide me with the conditional formatting conditions and formatting (fill colors, etc.). For example, perhaps you want the circle to be green if a cell value is less than a certain number, yellow if greater than that number but less than a second number, and red if greater than the second number.
Damon
Damon