Even then, most people won't be seeing your super cool font, so if you want this font to be used, make it into a graphic in your image editor and put the graphic on your page where you want it.
Do remember of course that if someone has images turned off they won't be able to read this text at all. If you choose to include the style sheet itself within the HEAD tags as shown above, then you will have to make those changes on every page on your site.
Changing text color is a simple trick you can manage in three ways. You can supply a hex color value, which is a pound sign followed by a six-digit hexadecimal number. You'll use a color hex code to do the trick. For a great tutorial on using CSS to change color properties, check out this article by Vincent Wright.
You cannot use a word processor like Microsoft Word, LibreOffice, or Google Docs because these programs insert invisible formatting called control characters which are incompatible with HTML. Basically, if it's text, it'll work.