So for future listings, maybe start fresh to ensure that the updated version of the template is applied. For this current listing, what you can do is add a style attribute, though it will be kind of a pain. So instead of:
<font color="#ff0000" size="6"><u>MICROSOFT XBOX 360 ELITE (120GB) BLACK CONSOLE WITH MASSIVE BUNDLE</u></font>
Try:
<font size="6"><u style="color: #ff0000;">MICROSOFT XBOX 360 ELITE (120GB) BLACK CONSOLE WITH MASSIVE BUNDLE</u></font>
The style attribute will have to be on the innermost element (in this case the <u> ), since wrapper * will be overwriting everything.