Hmmm. If you mean the text that shows before the picture is loaded, you need to use the ALT tag in your HTML code. Otherwise, if you mean getting text to show OVER images, thats covered in the 2nd and 3rd page of my Imageready tutorial.
As for the colours, try using the
Image > Adjust > Hue / Saturation command in Photoshop, with the colourization checkbox turned on. You'll get some pretty funky colour changes there if you want them....
