@HatebreedeR
when adding your color do
example
04,01 <-- red text black background

if your using a one digit color, always add a 0 before it
example
01 02 03 04 etc

here is a real quick re-write so your actions will also be color

#talker off
on 1:input:*: {
  if (!%co1) || (!%co2) { echo -a Please set the colors in the menu, or disable the talker. | halt }
  elseif (/ !iswm $left($1,1)) && (Status Window !iswm $active) {
    var %x 1
    while (%x <= $gettok($1-,0,32)) {
      var %text1 $mid($gettok($1-, [ [ %x ] ],32),1,1)
      var %text [ [ %text ] ] $replace($mid($gettok($1-, [ [ %x ] ],32),1,1),[ [ %text1 ] ], $+(,[ %co1 ],,[ [ %text1 ] ],,[ %co2 ],)) $+ $mid($gettok($1-, [ [ %x ] ],32),2,$calc($len($gettok($1-, [ [ %x ] ],32) - 1)))
      inc %x
    }
    msg $active %text 
    halt
  }
  elseif (/me iswm $left($1,1)) && (Status Window !iswm $active) {
    var %x 1
    while (%x <= $gettok($2-,0,32)) {
      var %text1 $mid($gettok($2-, [ [ %x ] ],32),1,1)
      var %text [ [ %text ] ] $replace($mid($gettok($2-, [ [ %x ] ],32),1,1),[ [ %text1 ] ], $+(,[ %co1 ],,[ [ %text1 ] ],,[ %co2 ],)) $+ $mid($gettok($2-, [ [ %x ] ],32),2,$calc($len($gettok($2-, [ [ %x ] ],32) - 1)))
      inc %x
    }
    me %text 
    halt
  }
}
#talker end
menu * {
  Talker
  .Colors
  ..Color One %co1 : set %co1 $$input(Choose a color: Ex. 12,eo,Color,%co1)
  ..Color Two %co2 : set %co2 $$input(Choose a color: Ex. 14,eo,Color,%co2)
  . -
  . $iif($group(#talker) == on,$style(1) Enabled,Enabled): enable #talker
  . $iif($group(#talker) == off,$style(1) Disabled,Disabled): disable #talker
}