Its in the stylesheet. ( style.css in your template/default )
f.i. this:
.smalltext {
font-family: Tahoma,Verdana,Arial,Helvetica,sans-serif;
font-size: 10px;
font-weight: normal;
color : #666666;
}
Is the color of the "smalltext"
check your html source wich text is handled by what style class.
