Changing the label color and/or font is achieved easily via the Label Settings screen.
If you want the name (first line) and the address to have the same colour/font, switch on the Same Color and Same Font switches. This only applies to version 6.70 and later. Previously the name/address had the same color/font.
Tap Name Text Colour and select the colour you want from the next screen.
Similarly, tap the Name Font cell and select the desired Font from the next Screen.
If you wanted a different color and/or font for the address, repeat this for the Address Color and Address Font.