When I say you highlight your text and then select the letter A with the drop down menu of color choices, I'm referring to the tools above the box of text that your post is in. One has the letter A with a thick underline and a little arrow to the right of it. If you click on that little arrow, a selection of colors will open up.

The text color option should be available to you in regular edit or Advanced version. Changing the headline you have to select the button at the bottom for the Advanced option.