If you need to bulk-change the color of recolored parts in paragraph texts, you can use either general text replacement tools - e.g. srxText and change the color control codes - i.e. \Cnnnn; or \cnnnnnn;. Or you can make these edits easier by using the ReplMTcol utility.
You can download this freeware LISP utility from Download, load it into AutoCAD or AutoCAD LT using APPLOAD and run it by typing the REPLMTCOL command.
After running the command, select the texts, attributed blocks and dimensions in which you want to make any color changes. Then enter the number (or code) of the original color of the text sections to be recolored and the number of the new color. By typing "?" you can list the color codes from existing mtexts or specify the new color code by specifying the hue in the R,G,B components. Texts with truecolor colors need to be recolored twice - they contain both the code for the ACI color number and the longer truecol code for the truecolor hue.
For example, changing from color 1 to 2 will recolor the red parts of the text (red=1 in the ACI code) to yellow (yellow=2 in the ACI code). You can also get truecol codes in the Color Converter (the gray long code number under RGB).