You can create a character style, then assign it a hot key.
Select your colored text and show your styles drawer (View menu).
Under Character Styles, you'll see "None" and to the right of that is a downward pointing triangle. Select the triangle and you'll see "Create a New Character Style ..." Hit that and you'll be asked to give it a name.
(That panel also has a downward-pointing triangle where you can set what attributes are in the style. This is a lot easier than the current version of Word I'm using.)
After you've created a name, and it appears in the Styles Drawer, to the right you'll see another downward-pointing triangle where you can set a hot key (F1...F8). I'd rather have some command or control key combo, but it's better than nothing.
mt