In versions of Office prior to Office 2007, you would have used the Format menu to change font colors. But of course like most of the other menus you're used to, they've gotten rid of that menu too. Now you're directed to the "Design" button panel.
But when you're editing your link text, you'll notice a handy little semi-transparent window that shows up near your text. How cool! You don't even need to go up to the menus anymore, they bring it to you! As you move your mouse towards the ghostly font formatting menu, it becomes less transparent, and you can click on it. And hooray, it includes font colors!
Except... IT COMPLETELY IGNORES the colors you choose in that little hovering options box. There are 3 different colors there, but none will change the color of your link text. No warming is given, no explanation, it's lets you go through all the motions, and then just silently refuses to do it.
Instead, they want you to create an entirely new Color Theme to change that text color of your highlighted link. They do clone the current one you have. Microsoft has a video and text description of how to do this.
This does have the advantage of changing ALL of your links, which is usually what you want; in the old Power Point it was kind of a pain to hunt for each link and change its color. I don't know how you would have links in different colors if you needed that - maybe use plain text and add colors and underlining.
The video is quite amusing. The narrator claims this is really easy to do... and offers two suggestions. The first method goes by a bit fast if you're not used to PPT 2007, and the dailog boxes are a bit "busy". But the second method, involving "matching color formulas" is a hoot. If you listen to the entire video in one fell swoop, it really does sound like techno-babel at its finest.
I do understand that the new methods are meant to give a most consistent look to all the links in all the slides in your deck. But I fault Microsoft for the following items that could have been address:
1: For them to proactively bring up a formatting menu with color options, and then SILENTLY IGNORES THOSE CHOICES, is simply unforgivable. They should either suppress the menu, or explain to me why they are ignoring me AND offer to fix it the "right way".
Adobe Photoshop has a nice warning when highlighting and copying pixels, if you are accidentally on the wrong level. It notices that you've taken an action, but it also notices that it didn't have any effect. At this point it pops up a helpful warning dialog box explaining that your action had no effect, and suggesting why the cause might be. VERY HELPFUL on Adobe's part.
2: In Powerpoint's Design / Themes / Color menu, which I did wander around, it would never occur to me to "Create New Theme Colors..." just to change the color of one piece of text. That dropdown menu shows a long list of pallets which appear to let you change the entire color theme of all of your slides! And they present a bunch of canned themes, none of which I wanted; I just wanted to was to change just one item. And the "Create New...", being at the bottom of that menu, looked like something I would only use if I (a) Wanted to change all colors of all items on all slides, AND (b) wasn't happy with ANY of their predefined sets of colors. So that path of menus seems "drastic" on TWO levels of logic, whereas what I wanted was to change just 20 characters on one slide.
So when I did buzz around that area, their prescribed menu paths seemed very drastic, whereas what I wanted seemed quite simple, so it looked like the completely wrong direction to go in.
Office 2007 needs lots and lots of refinements to recover from all theses changes. They confuse experienced users, and I would argue are not really much more helpful to new users either.
The idea of button bars / menu ribbons, or whatever they call them, is a nice idea, but Office's implementation is so confused that it serves neither experienced nor novice users well.