How to change the color of the text for logged edits?

The logged edits are red because the values do not match the available choices of he multiple choice fields.  Normally you do not want to expose the logged field itself on reports as they look too messy.  There are formula avaulbale to parse out the mopst recent updated.

For example if you have the field set to log edits at the bottom and have the field properies set to show the value and the date on the same line,  and are not showing the time, then you can use these formulas.  If your settings are different then there may be different formulas available.

Most recent value (formula text field type)

Trim(Right([my update field],"]"))

Date of most recent update (this needs to be a formula date field)

ToDate(Left(Right([my update field],"["),9))

Who did the most recent update (formula text field type)

Trim(NotLeft(Left(Right([my update field],"["),"]"),9))