replace all

With ActiveDo***ent.Content.Find
    .ClearFormatting
    .Replacement.ClearFormatting
    .MatchWholeWord = True
    .Execute FindText:="Inc aa", _
        ReplaceWith:="incor****ated", Replace:=wdReplaceAll
End With

if my do***ent contains below line of code
inc aa for the [COLOR="Red"]inc aabcde [/COLOR]and incart the inc aa

the above code will replace inc aabcde also

is this a bug in ms word