Hi,
Per my understanding, when setting Conditional Formatting in SharePoint Designer 2010, the formatting style not display in the list.
This is how I did in my environment:
1. Create a new page in the Site Pages library, insert a custom list which contains some items into this page, save;
2. Open this page in SharePoint Designer 2010 in Advanced Mode, switch to Split view;
3. Conditional Formatting -> Format Row, in the Condition Criteria dialog, set the condition as ID Not Equal 1; Then in the Modify Style dialog, set the
background-color to a color, click OK to save the changes:
4. Save the page in SharePoint Designer, go to the browser, refresh the page, the formatting style takes effect:
I would suggest you clear the cache of SharePoint Designer, follow the steps above to make another test to see if the issue still exists.
About how to clear the cache of SharePoint Designer:
http://www.c-sharpcorner.com/UploadFile/sagarp/how-to-clear-your-sharepoint-designer-20102013-cache/
Best regards