I think that in your second line, the font is changing between the / and the "me". Not sure if I can really support that. Just don't do it! *grin*
As for the color, I actually like it better when the quoted lines don't have color, because in my postbit it looks confusing (at a glance, its hard to tell if the /me belongs to the quoted post or the reply). You can always change the preg_replace line to put the [color] back in, as you've done