I believe you add an if then statement for the color formula that lockwelle mentioned, and you can use it to color specific characters is have the the ascii code for it.
If would go something like this...
If Char(32) then crRed else crblack;
I have used this quite a bit to set the color of checkmarks and other special characters in the WingDings fonts. If you have Brian's book you will find it discussed there as well.
I always get the syntax wrong on the ascii character code but feel free to look in the help file. Just know that this is the color the character will be, so if you want an 'a' to be red in that text object or field all 'a's will red. You would need alot more logic to control what is happening if that is what you want.
Hope this helps.
Regards,
John W.