It looks ok, probably you can improve the usage of selectors by caching it.
- Chain the event handlers
- Cache the selector
$('#searchwrapper .searchbox_submit')
using a variable
Try
$(document).ready(function(){
var searchbox_submit = $('#searchwrapper .searchbox_submit');
$('#searchwrapper .searchbox').focus(function(e) {
searchbox_submit.css('color', '#999999');
}
).focusout(function(e) {
searchbox_submit.css('color', '#dddddd');
}
);
});