Hey Paul:
Some moving pieces here, especially when you're looking to combine progressive profiling with conditional visibility. If a field is both conditionally visible and progressively profiled, you have a whole thing on your hands. Laying in a third element (custom JavaScript) becomes even more complicated with Forms 2.0, because fields are pulled in through external forms2.0 JavaScript.
Here's a little whiteboarding of how you can do this if you abandon progressive profiling in this case:
The checkbox values in this explanation are "green1," "green2," and "red1." The conditional visibility logic is based on the "Checkboxes" type field containing those values.
Note that conditional visibility on these can't get very complicated, so the way we'd be layering in "if/then" levels would be through conditionally showing a fieldset AND then conditionally hiding the fields within that fieldset. With some basic CSS you can make it look fine there. You also don't have the option to say "contains x AND contains y," so in the case of only wanting to show Green (in this diagram) when both are checked, you'll either have to accept that a single check shows the value or you'll have to combine the two green options into a single checkbox.
Cheers,
Edward Unthank | Founder, Etumos