The below example will look at itemName_thing and if the value is “off” then the text will be green else it will be red
<div class="col-xs-4 text-left" ng-style="{ color: itemValue('itemName_thing')=='off'?'green':'red' }">
This follows the standard Angular JS Ternary structure for an if statement
{ConditionVar ? 'varIsTrue' : 'varIsFalse'}