This month we added the ability to format text fields based off a numeric field: https://powerbi.microsoft.com/en-us/blog/power-bi-desktop-may-2018-feature-summary/#conditionalFormatting
We also are planning on adding a feature that will let you format your text based on comparisons. I’ll update this idea based on our progress on that feature.Anonymous commented
I totally Agree with this; It would be great to conditional format a table and/or a matrix based on the cell text, not only numbers.
Also, it would be nice to be able to have a full row to be conditional formatted based on a value from a specific column too!