I have multiple Excel sheets with data elements and formatting that I would like to link.
This data is on Sheet 1:

I can copy the fields, 'Test Data' and 'More Test Data'.
Then paste the data using 'Paste Link' to link the data fields so if I change one of the fields the other linked field also changes.
I'd also like to include the cell formatting with the linked contents. So if I change the 'Test Data' field by selecting the Styles-Good. This formatting also changes in the linked data field.
I can select the linked paste option then the formatting option and the linked cell changes to the original cell's formatting. Shown below:

But when I change the original cell's formatting, the linked cell does not update:

Is there anyway that I can link the contents of a cell AND the formatting of a cell to another cell so when the contents OR the formatting changes, it is updated in the linked cell?
You can use paste.special to paste the value or function and you can paste the formats only.
however a linked cell won't update the formats but WILL update the cells contents of the linked cell when the source cell contents are changed either as a value or the result of a function.
To get a linked cell to update formats you will need vba.