If you use the colors only for ease of editing in FrameMaker, and want them to come out black in the converted files, set TextColor=0. This is the default for WinHelp conversions, because color is used in a consistent way in WinHelp to indicate hotspots, and other uses might confuse the reader. However, you can override the default with TextColor=1, so that your text colors appear in the WinHelp file.
The TextColor setting does not affect the use of color in graphics, including graphics text (such as callouts). The RTF color table also does not affect the colors used in graphics; the color information is embedded in the graphic metafile.