Hi,
please take a look in the documentation
Spectrum_Modeling_IT_Infrastructure_Admin_ENU.pdf
And search "Attributes Determining Condition and Rollup Condition"there is a section explaining it.
The condition reflects the color of the model (green, orange, brown, blue, red, gray, yellow).
The Condition_Value will be used in rollup condition of its container.
Gray comes from the fault isolation. And typically pingables are not red when they aren't contactable but blue (value_when_red=0).
This documentation is very important to read and explains the whole mechanisme.
Regards,
Philippe