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.Ali Wright commented
August 2019 and still no further forward - it should be easy to add CF for text-based columns AND for CF in one column based on the text or number value in another. You've added icons - why not look at this, too?