Views Field Show "NEW" if less than 1 day old
Probably need to strip the html from $submitted and convert to timestamp first, 
e.g something like:

$submitted = $view-&gt;style_plugin-&gt;rendered_fields[$view-&gt;row_index]['submitted'];

if (strtotime(strip_tags($submitted)) &gt; strtotime('-1 day')) {
  echo '&lt;div style="color:red;"&gt;NEW!&lt;/div&gt;';
}