Conditional field behavior based on field values

Hi,

I'm looking to have the ability to change different behaviors based on field values.

For example, let’s say I added a custom field called “expected feature date”, and I assigned this feature to a release, where the release date is larger than the expected feature date. I would like an easy way to either color the feature background (for example red), according to which release I place this feature in – or another way which can help me get a clear view of when the feature was asked for, vs. when it can be delivered (maybe a report if real time background feature color cannot be implemented yet).