Did you try this? stackoverflow.com/a/19008769/1139784 I would assume so since there was a similar answer on the question you linked.
@Override
public void onCreateOptionsMenu(Menu menu, MenuInflater inflater) {
inflater.inflate(R.menu.your_menu, menu);
int positionOfMenuItem = 0; // or whatever...
MenuItem item = menu.getItem(positionOfMenuItem);
SpannableString s = new SpannableString("My red MenuItem");
s.setSpan(new ForegroundColorSpan(Color.RED), 0, s.length(), 0);
item.setTitle(s);
}