Assuming that you mean workbooks in a folder, not worksheets in a file as
your subject line says, then that's a Windows question, not an Excel
question, but by default (in some versions of Windows, at least) compressed
files are shown in blue.
There's an option in windows to show compressed or encrypted files in different
colors.
Open windows explorer (not MSIE)
tools|folder options|view tab
It's the next to last option for me (in winxp home)
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