Loop to Find Instances of Font.Color = wdRed and Apply Custom Style

[Mavila]

I've got a document that has some text colored red. Sometimes it's just a word, other times a sentence or paragraph. I seem to be able to loop Find.Execute the instances of red font okay. But, I'm not getting consistent results when I try to convert those to a custom Style. It works about 50% of the time.

Here's the code:

Dim r As Range
Dim Fnd As Boolean
Fnd = True
Set r = ActiveDocument.Content
r.Find.ClearFormatting
r.Find.Font.Color = wdColorRed
Do While Fnd = True
    With r.Find
        .Text = ""
        .Replacement.Text = ""
        .Forward = True
        .Wrap = wdFindContinue
        .Format = True
        .MatchCase = False
        .MatchWholeWord = False
        .MatchWildcards = False
        .MatchSoundsLike = False
        .MatchAllWordForms = False
        .Execute
    End With
If Fnd = True Then
        r.Select
        Selection.Style = ActiveDocument.Styles("CustTxt")
    End If
Loop