There's the comment inline feature of course, but I've run into problems with this.
Also, you have to highlight each piece of text and choose the colour from the palette each time - which can be very time consuming when you have a lot to do. There's a recommendation to fix this at MDL-7373. - its got my vote. Also there was a post from Sharon Goodson about this..
In Word, you can use the paint formatter to quickly swab multiple pieces of text with the chosen colour, but I gather its not easy to import Word as html code.
Has anyone found a workable solution? Again please vote for MDL-7373!
Cheers