1 . This bug was addressed in catalog 17.1 rollup1 patch . you will need to apply catalog 17.1 rollup1 patch
2. you highlight the text ( which you want to change the color ) , and then in color palette , pick the color you want . After that you will need to click the "T" icon to confirm 'Change the color of the select text" to save it :
<Please see attached file for image>