I could not find a good document on how to do this, so I hope this helps someone else.
The end result is that selected fields values are color-coded based on their value:
Because you are actually manipulating the HTML for the cell, you can also use this same logic to insert images, links, etc, right into the cell. This is terrific for creating drill-down functionality.
If someone from IG would like to jump in and show us a better way to conditionally format summaries, that would be super, because the way I came up with uses unsupported functions.