The easier way is to cut it off after a character limit, to do that do something like..
PHP Code:
$max_char = 50;
if(strlen($row['posting_discription']) >= $max_char)
{
$row['posting_discription'] = substr($row['posting_discription'], 0, $max_char)."...";
}
That will cut it off at 50 characters and add ... to the end.
As far as formatting the color, you just add html to the strings... like
PHP Code:
$sometext = "<span style=\"color: #FF0000\">Red text</span>";