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My solution.
Could not follow the sort order.
Spoiler
Workflow
Formula Tool
IF IsNull([Green High])
THEN
IF [Value] > [Green Low] THEN "Green"
ELSEIF [Value] > [Amber Low] AND [Value] <= [Amber High] THEN "Amber"
ELSEIF [Value] < [Red] THEN "Red"
ELSE Null()
ENDIF
ELSE
IF [Value] >= [Green Low] AND [Value] <= [Green High] THEN "Green"
ELSEIF [Value] > [Amber Low] AND [Value] <= [Amber High] THEN "Amber"
ELSEIF [Value] > [Red] THEN "Red"
ELSE Null()
ENDIF
ENDIF
Formula Tool
IF IsNull([Green High])
THEN
IF [Value] > [Green Low] THEN "Green"
ELSEIF [Value] > [Amber Low] AND [Value] <= [Amber High] THEN "Amber"
ELSEIF [Value] < [Red] THEN "Red"
ELSE Null()
ENDIF
ELSE
IF [Value] >= [Green Low] AND [Value] <= [Green High] THEN "Green"
ELSEIF [Value] > [Amber Low] AND [Value] <= [Amber High] THEN "Amber"
ELSEIF [Value] > [Red] THEN "Red"
ELSE Null()
ENDIF
ENDIF
