The answer is no. Even using the following code:
<A HREF = "http://www.microsoft.com"> <font color=#FF0000> Microsoft </font></A> the font colour specified is overridden by the link colour defined in the body header. Netscape Navigator actually displays this colour until the page has completely loaded, then changes to the link colour. The lack of control over link colours is a source of much frustration for Web page developers.
The solution (or compromise if you like) is to use Netscape's frames. Each frame is a separate HTML page, so can use different coloured links in each one. Most browsers including Internet Explorer support frames.
The other option is to use a graphic for each link. A small graphic which contains the words you want will load quickly.
Remember that HTML is limited in what it can do. You cannot have total control over what the end user will see.
- Roy Chambers