Is there a color plugin?

You can use the html font color tags when composing a post and even make a quick tag to do it more quickly.

<font color="maroon">text</font>

i just want to second Servant there, and say i’ve had great luck with editing wp-admin/quicktags.js

starting on line 35 you can paste in new tags. these allow you to select text and format them in the editing screen. (as long as you aren’t on safari/Mac OSX, etc)

edButtons[edButtons.length] =
new edButton('ed_red'
,'red'
,'<span style="color:red">'
,'</span>'
,''
);

see where it’s red, you can change that to any color, or use hexidecimals in the color:#cf3… etc

you could also refer to css if you like, or make it do <p> tags or whichever you like.