The same way we can access 'Format Cell...' I would suggest to had 'Conditional Formatting...' menu entry into the cell context menu accessible by a right click on any cell...just under 'Format Cell...'
It might be quite handy and user friendly and intuitive as possible enhancement (Quick Access)
What do you think, Jay. Is there space left in this menu?
*** This bug has been marked as a duplicate of bug 87357 ***