There are two areas in UBB where you change colors. The first is Style Settings which affects only the first page (forum summary page). The actual forum style settings are modified/changed under Forum Settings. After changing the colors in Forum Settings you will need to run Update Threads for the changes to be reflected in existing threads.

Now, it sounds like you're saying you changed the Style Settings and the forum summary page doesn't reflect this. When viewing your forum summary page did you reload/refresh the page (the browser might have the old page cached). Also, when you go back into Style Settings are your previous entries reflected there?

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Doug
darksaber.hispeed.com
One Ring to rule them all, One Ring to find them,
One Ring to bring them all and in the darkness bind them
In the Land of Mordor where the Shadows lie.
--J.R.R. Tolkien, The Lord of the Rings