What control are you using to display the text?
The standard VB Label and Textbox controls will not do this. You'll need to use the RichEdit control, or use a browser control and embed the HTML needed to turn it red/blue/etc.
One way (and it's sort of cheesy) is to use three labels. One for the string before it turns red, one for the red text, and one for the text afterwards. You'd have to write code to position them correctly.
Chip H.