property Items.CellHyperLink ([Item as Variant], [ColIndex as Variant]) as Boolean
Specifies whether the cell is highlighted when the cursor mouse is over the cell.

TypeDescription
Item as Variant A long expression that indicates the item's handle.
ColIndex as Variant A long expression that indicates the cell's handle or the column's index, a string expression that indicates the column's caption or the column's key.
Boolean A boolean expression that indicates whether the cell is of hyper link type.

A cell that has CellHyperLink property to True, is a cell of hyper link type. Use the CellHyperLink property to add hyper links to your control. If the user clicks a cell of hyper link type, the control fires the HyperLinkClick event. Use the CellForeColor property to change the cell's foreground color. Use the HyperLinkColor property to change the color that's used by control when the cursor is over a cell of hyper link type.

If you would like a HOT TRACKING sample you could use the ItemFromPoint property like in the following sample. The sample changes the foreground and the background color for the tracking item. Use the ItemBackColor property to change the item's background color. Use the ClearItemBackColor property to clear the item's background color, after setting using the ItemBackColor property. Use the ItemForeColor property to change the item's foreground color. Use the ClearItemForeColor property to clear the item's foreground color.

Private Declare Function SetCapture Lib "user32" (ByVal hwnd As Long) As Long
Private Declare Function ReleaseCapture Lib "user32" () As Long
Dim hIA As HITEM

Private Sub Grid1_MouseMove(Button As Integer, Shift As Integer, X As Single, Y As Single)
    Dim hI As HITEM, c As Long, hit As HitTestInfoEnum
    With Grid1
    hI = .ItemFromPoint(-1, -1, c, hit)
    If (hI = 0) Then
        ReleaseCapture
    End If
    If Not hI = hIA Then
        With .Items
            If Not hIA = 0 Then
                .ClearItemBackColor (hIA)
                .ClearItemForeColor (hIA)
            End If
            If Not hI = 0 Then
                SetCapture Grid1.hwnd
                .ItemBackColor(hI) = vbRed
                .ItemForeColor(hI) = vbWhite
            End If
        End With
        hIA = hI
    End If
    End With
End Sub