
Originally Posted by
Eddenwulf
Please, Garan, say it ain't so!!!
It ain't so.
Oh, you wanted more than just that? 
On a more serious note, Rainbow Chat predates the ability to use color formatting tags in a Lua control, thus the preview used separate controls with a distinct forecolor for each piece of text. I probably should rewrite the preview to make use of the formatting tags, but, as they say, if it ain't broke, don't fix it.
As to your question about colored text, I will add an example of how it works when I get a chance later tonight (I don't like to provide answers/examples without actually running them in-game).
First, did you remember to use :SetMarkupEnabled(true) on the label? That is one easy thing to overlook.
EDIT: Ok here's a simple sample with a Label, TextBox and Lotro.TextBox showing colored text in all three.
Code:
testWindow=Turbine.UI.Lotro.Window()
testWindow:SetSize(400,140)
testWindow:SetPosition(200,200)
testWindow:SetText("Color Test Window")
testWindow:SetVisible(true)
testLabel=Turbine.UI.Label()
testLabel:SetParent(testWindow)
testLabel:SetSize(380,20)
testLabel:SetPosition(10,45)
testLabel:SetMarkupEnabled(true)
testLabel:SetText("<rgb=0xFF0000>this</rgb> <rgb=0x00FF00>is</rgb> <rgb=0xFFFF00>a</rgb> <rgb=0x0000FF>test</rgb>")
testText1=Turbine.UI.TextBox()
testText1:SetParent(testWindow)
testText1:SetSize(380,20)
testText1:SetPosition(10,70)
testText1:SetMarkupEnabled(true)
testText1:SetText("<rgb=0xFF0000>this</rgb> <rgb=0x00FF00>is</rgb> <rgb=0xFFFF00>another</rgb> <rgb=0x0000FF>test</rgb>")
testText2=Turbine.UI.Lotro.TextBox()
testText2:SetParent(testWindow)
testText2:SetSize(380,20)
testText2:SetPosition(10,95)
testText2:SetMarkupEnabled(true)
testText2:SetFont(Turbine.UI.Lotro.Font.Verdana18)
testText2:SetText("<rgb=0xFF0000>this</rgb> <rgb=0x00FF00>is</rgb> <rgb=0xFFFF00>the</rgb> <rgb=0x00ffff>third</rgb> <rgb=0x0000FF>test</rgb>")