validation(resolved)

[pnish]

Did you try and figure out why it wasn't working properly? I've amended the code, this should do what you want.

Option Explicit
 
Dim IsNegative As Boolean
 
Private Sub Text1_Change()
 
    If Left$(Text1.Text, 1) = "-" Then
        Text1.MaxLength = 3
        IsNegative = True
    Else
        Text1.MaxLength = 2
        IsNegative = False
    End If
    
End Sub
 
Private Sub Text1_KeyPress(KeyAscii As Integer)
 
    Select Case KeyAscii
        Case vbKey0 To vbKey9                   ' These keys are OK
            If Len(Text1.Text) = 1 Then
                If Not IsNegative Then
                    If Val(Text1.Text) > 4 Then
                        KeyAscii = 0
                    ElseIf Val(Text1.Text) = 4 Then
                        If KeyAscii > vbKey0 Then
                            KeyAscii = 0
                        End If
                    End If
                End If
            Else
                If Abs(Val(Text1.Text)) > 2 Then
                    KeyAscii = 0
                ElseIf Abs(Val(Text1.Text)) = 2 Then
                    If KeyAscii > vbKey0 Then
                        KeyAscii = 0
                    End If
                End If
            End If
        Case 45                                 ' 45 is '-'
            If Len(Text1.Text) > 0 Then
                KeyAscii = 0
            End If
        Case vbKeyBack, vbKeyDelete             ' Allow backspace & delete
        Case Else
            KeyAscii = 0
    End Select
    
End Sub

I know the code is sorely lacking in comments, so why don't you spend some time stepping through the code to try and understand how it works. You may surprise yourself and come up with a better way to do it.

BTW There is still a subtle logic error in the code. See if you can figure out what it is and then fix it.