[LifesGreatestGift]

open template calandar_monthly_day

replace all with
(code changes highlighted in red)

<td>
	<vb:if condition="$show['highlighttoday']">
  	<div class="events today">
	<vb:else />
		<div class="events">
	</vb:if>
			<vb:if condition="$show['weeklink']"><a class="weeklink" href="calendar.php?{vb:raw session.sessionurl}c={vb:raw calendarid}&amp;week={vb:raw firstweek}&amp;do=displayweek&amp;month={vb:raw month}" title="{vb:rawphrase view_this_week_in_detail}"><vb:if condition="$stylevar['textdirection'] == 'rtl'">&larr;<vb:else />&rarr;</vb:if></a></vb:if>
			<a class="daynum" href="calendar.php?{vb:raw session.sessionurl}do=getinfo&amp;day={vb:raw year}-{vb:raw month}-{vb:raw day}&amp;c={vb:raw calendarid}"><vb:if condition="$day == 1">{vb:raw monthname} </vb:if>{vb:raw day}</a>
			<vb:if condition="$show['eventlink'] OR $userevents OR $show['birthdaylink'] OR $userbdays">
			<ol>
				<vb:if condition="$show['eventlink']">
					<li><a href="calendar.php?{vb:raw session.sessionurl}do=getinfo&amp;day={vb:raw year}-{vb:raw month}-{vb:raw day}&amp;c={vb:raw calendarid}" class="eventlinks" title="{vb:raw eventdesc}">{vb:rawphrase events}</a> ({vb:raw eventtotal})</li>
				<vb:else />

                                       <div class="eventlink">
					{vb:raw userevents}
                                       </div>

					<vb:if condition="$show['birthdaylink']">
						<li><a href="calendar.php?{vb:raw session.sessionurl}do=getinfo&amp;day={vb:raw year}-{vb:raw month}-{vb:raw day}&amp;c={vb:raw calendarid}" title="{vb:raw birthdaydesc}">{vb:rawphrase x_birthdays, {vb:raw bdaycount}}</a></li>
					<vb:else />
						{vb:raw userbdays}
					</vb:if>					
				</vb:if>
			</ol>
			</vb:if>
	</div>
</td>

Add the following to additional.css

.eventlink a, a.eventlinks {color:#FF0000;}
.eventlink a:hover, a.eventlinks:hover {color:#0000ff;}
.eventlink a:active, a.eventlinks:active {color:#cc00ff;}

change color values to what you want.

Refer to image below for results. Red links are events.