A somewhat more simple approach to this actual case:
The OP is setting the colours of all cells to one of two different colours to highlight failures. More efficient would be letting the default BG colour be white and just update the yellow cells (bool is false) in a case structure.
Well this isn't a VBA or Excel forum, so you will likely find better answers elsewhere. If this is being done in LabVIEW it is quite easy. You use the OpenG Array package and use the "Remove Duplicates" function, which returns the indicies that were removed. Then you can use the Delete From Array providing a 2D array and then removing columns or rows, at the indicies found earlier.
I agree to use defer front panel updates, but if you are dealing with coloring alot of cells (more than say 40) I would recommend trying to do something like this which uses a "Virtual MultiColumn Listbox"
This technique only shows a few rows of data, and the rest is shown as the scrollbar changes. This is a good candidate for an XControl.