I am currently trying to use conditional formatting to highlight a section where the time is equal to or between two values.

When ran as a standalone formula, it works no problem. Unfortunately, when used as conditional formatting, it does not.

The formula I am using is:

=(Mod($A2,1)>=TimeValue(indirect("fall22SCHEDULE!"&cell("address", $H$2)))) * (Mod($A2,1)<=TimeValue(indirect("fall22SCHEDULE!"&cell("address", $I$2))))

While I originally though that my issue was with the sheet reference, I created another condition in a separate cell to check that, and that formula works.

I am not sure what I am doing wrong here. I have also tried wrapping the formula in an IF statement (if the result was >0, return TRUE).

Example Sheet: