[san-46]

Код:

...
var
  Address : string;
...
findrange := Excelworksheet1.UsedRange.Find(What:='www', LookIn := xlValues, 
                                 SearchDirection := xlNext);
if not VarIsEmpty(findrange) then begin
  Address := findrange.Address;
  repeat
    findrange.Font.Color := clRed;
    findrange := Excelworksheet1.UsedRange.FindNext(After := findrange);
  until Address = findrange.Address;
end;