When working on Profiles today, I was creating a few new Preferences. One area seemed to be a candidate to use one of our client supplied workspace's text styles. In the Style I selected, the Color is not assigned. When selected as a part of a named symbology, the color appears to be assigned as color zero. However, clicking on the color clears the text style. If opened in a tool what the named symbology is used, clicking on the color clears both the named symbology and the text style.
Finally, if left unchanged, so the named symbology is used and the named symbology is using the text style which has no color assigned to it, the item using the named symbology places the text using the active color and not the "apparent color' of the named symbology.
In the XIN file, the Named Symbology does list the color as zero, but when used, the active color is used.