Ok. To edit the text, you must download a Binary Hex editor. Try this free one you can download here:
http://download.com.com/3000-2352-7621132.html?tag=lst-0-1
Next step, make a backup of explorer.exe (usually found in the c:/windows directory). Do this by copying it and pasting it into another directory, such as c:/backup. Now make a copy of that and call it explorer1.exe. This can be placed in the windows directory with the original explorer.
Now open the explorer1.exe with XVI32.exe (open the program, use file>open). On the pane at the far left, scroll down until you find 42086. On the text side (far right) it should like like S[]t[]a[]r[]t[]R[]T[]h[]e[]r[]e[] [] etc. If it does not, reply to this...and I'll try to find a hex string for you to search for. Anyhow, change the first S t a r t to any five (or less) letter word you would like to use for your start menu. Now save.
Next, you must get your computer to use explorer1.exe instead of explorer.exe. This is quite often where things can go wrong. Go to Start>run. Type in "regedit". To find the shell key, go to [HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Windows NT\CurrentVersion\Winlogon]. (on the left pane). Right-click the entry that says "shell". Click modify. Change the value to explorer1.exe. If it is located in a location other then C:/windows you will have to figure out how to specify directories in the registry (I do not know how, sorry...but it's advisable to keep explorer.exe in the c:/windows directory anyway). Now reboot. You should now have a new start button...if there are problems...you can run regedit and change it back. I advise copying the directory in the registry above so you can use it if you have to run regedit from the task manager. (ctrl+alt+delete, you can run programs from there).
As for colour, get something like StyleXP so you can download visual styles and use them as alternatives to the Windows XP original one. (tgtsoft.com I think). If you don't want to pay the 20$ you can edit the UXtheme.dll file (I can get you a link to instructions somewhere on this forum).
Hope this all helps.