Hi Swathi,
1. Default macro will be executed only for the currently selected combination from your selection profile. It will not be executed for all the materials.
2. In my opinion, use of FG or BG color is not good option for your requirement. Instead you should use keyfigure to flag (Value 1 or 0) where there is exception situation. BG or FG for the color is not stored in database or livecache, it is randomly determined when macro is run as a default or by hitting the push button. Please think through this logic.
3.Clear the flag from above keyfigure if user do not want to take any action by using directly executable macro(Push Button).
I suggest consult senior APO consultant from your team. Also read more from help.sap.com to understand APO functionality.
Thank you
Satish Waghmare