It took me about 45 minutes to get all the alignments working and then color codes "working", but I had a few problems.
I spent another 30 minutes trying to figure out why my calculations all seemed correct, but when aligning to the right, it was adding an extra 8 or so pixels. Problem was, when calculating the width of my string, I was adding the XAdvance and XOffset values together.
The big problem, however, is that there is still something wrong with it. Using Palace Script MT looks fine, except the width is wrong (so, when text is either right-aligned or hits the right edge of the bounds, it renders outside of the bounds.) Coupled with the fact that I completely left out kerning-pairs, it has some major issues. Next time I'm working on it I'll actually sit down and thing about it; I've been randomly trying things over the last 30 minutes or so lol.
Anyway, I put up a shot showing the alignment and color codes. The text in the upper left (with the $#) are my gui controls atm; gui controls are rendered without color code formatting right now, but I'm thinking editable textboxes are the only controls that I need to stop from using color codes. If so, that's easily routed via inserting two '$' when they press that key and removing two when they press backspace. Iunno, it's time for bed and I don't feel like thinking anymore.