Can Conditional Formatting be Applied to Titles or Tool-Tips?

In what way would you like to apply conditional formatting? Is it to have different colours on the text?

Yes. In Titles - is it possible to color certain words to match your legend? Sometimes I like to put the legend colors in the Title. For instance: US Midterm Election Results by Democrats & Repulicans (In this scenario, the word democrats would be blue, while the republicans would be red) - making it easy to glance at the title and then the bar chart with no need for a legend.

On the bar charts and tool tips, it would be nice to color any tool tips for positive growth blue, while and negative percentage changes could be orange, etc

Unfortunately, not Power BI does not currently support color conditional formatting on the tooltips