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From the forum PHP FAQ:

Changing the colour of text is achieved by wrapping it in [color=][/color]. You can specify either a recognised colour name (eg. red, blue, yellow, etc.) or the hexadecimal triplet alternative, eg. #FFFFFF, #000000.

I've always used the color names, but is there an advantage to using the hexadecimal system, like more shades and hues? And if so, how does one know what code to enter for a desired color?

Just curious...

Heh, I did a Google search and found an explanation in seconds. This is an article summing up the hexadecimal color code with a nifty chart. Here is a further explanation of the 256-color palette.

I'm still learning, but I think I can make it work now...

This is also a nice site with tools (especially the interactive html color mixer) that help you selecting or displaying all possible colors.

Wow, nifty! Thanks.