yeah.. don't use dreamweaver to do it.
it's far easier, in this case, to hand code.
i assume the text on your site you will end up color coding by tags which mostly already exist ; I.E. everything in a <p> tag is red, everything in <em> tags is blue, everything which is <p> inside of a <td> is green, whatever. this is really the point of stylesheets- to standardize text by tags.
so, write a "universal" stylesheet entry which will surround the whole site, and make each text type a derivative of that:
the stylesheet entry:
.siteall P { font: bold 12px verdana, sans-serif; color: #000000 }
makes each P tag which is also within a tag as such: <span class="siteall"> to conform to the specs.
.siteall td p { specs here }
makes P tags which are inside a TD tag which is inside <span class="siteall"> to conform to whatever specs you put there.
in case you were wondering, the span tag is just something which is easy to make universal, and the .siteall is just a name which can be anything. you could make it "body" instead of ".siteall" and it would take effect on the existing body tags.
using these "cascading" rules, you should be able to color code your site rather straightforwardly. just make sure you get rid of those <font> tags!