Since the class uses only alpha texture (read the code!), It will be displayed in any color set by glColor. See this line in initWithData(which is called initWithString):
glTexImage2D(GL_TEXTURE_2D, 0, GL_ALPHA,
width, height, 0, GL_ALPHA,
GL_UNSIGNED_BYTE, data);
For red text, just call glColor4ub(255, 0, 0, 255)before drawing the texture.
, GL_BLEND GL_COLOR_MATERIAL.
. .