Here is how you get the highlighting done where character is >140
1. Goto new rules in Conditional formatting dropdown
2. Select "use a formula to determine which cell to format"
3. In the edit section under "format value where formula is true" give following:
=len(A1)>140
and then select custom formatting (fill color)
Now simply use format painter option to fill the complete column (all individual cells) with this formatting
*Note I am using Excel 2010