1)Place your text on the first Layer. 2) Right-Click on the first frame and select Create Motion Tween and then insert a Keyframe in some other frame. 3) Select the keyframe that you added and then click on the text. 4) Under "color" in the properties Inspector, choose Tint.
5) Select a color of your choice.
6 ) Go on Inserting Keyframes in other frames and change the color.
Your output should look something like this :