You have to enable the reputation system first !!
1. Go to AdminCP->vBoptions->User Reputation Options->Enable the system. Now you would notice a balance icon in every post of a user. You click on it to give rep.
2. By changing color of usergroup, I think you mean HTML Markup. Go to Usergroup Manager->Username HTML Markup->Provide a style->Read HELP (?) corresponding for example on how to change color of usernames of members of that usergroup.
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