The floof-o-meter is basically a little reward system. When someone helps you, etc, you can "nuzzle," or "floof" them once you hit 25 posts on the forum. You can floof the same person only once per day.
As for the colored text, that's available to everyone! You just use this code:
[color=(COLOR HERE)]-text-[/color]
You can insert a color in there such as "red" or "light blue," and your text will be presented as that color. I'd recommend looking here for more forum "codes" you can use: http://www.feral-heart.com/index.php?option=com_jfusion&Itemid=2&jfile=index.php&action=help&page=post (http://www.feral-heart.com/index.php?option=com_jfusion&Itemid=2&jfile=index.php&action=help&page=post)