You'll want to hook in to the Worksheet_Change
event.
Something like this should get you started:
Option Explicit
Private Sub Worksheet_Change(ByVal Target As Range)
If Target.Value = "OVER" Then
MsgBox "Cell " & Target.Address & " crosses OVER"
ElseIf Target.Value = "UNDER" Then
MsgBox "Cell " & Target.Address & " crosses UNDER"
End If
End Sub
Sub just_testing()
Dim mycell As Object
Set mycell = ActiveSheet.Cells(1, 1)
Call Worksheet_Change(mycell)
End Sub
With this code, changing cell A1's value to OVER (case-sensitive!) will print the message "Cell $A$1 crosses OVER".
Edit based on further information provided by OP:
For automatic worksheet changes, you'll need to use the Worksheet_Calculate event (example below). And for some strange reason, Excel seems to require that you have =NOW()
anywhere in the worksheet for Worksheet_Calculate to actually fire.
Private Sub Worksheet_Calculate()
Dim mycell As Object
Set mycell = ActiveSheet.Cells(1, 1)
If mycell.Value = "OVER" Then
MsgBox "Cell " & mycell.Address & " crosses OVER"
ElseIf mycell.Value = "UNDER" Then
MsgBox "Cell " & mycell.Address & " crosses UNDER"
End If
End Sub