I’ve never see that happen with color. However, I have seen it happen with text size, probably for the same reason. Photoshop stores things on a per character basis and sometimes can have remnants of prior settings embedded that get used in batch. I’ve been working with Adobe back and forth multiple times for the text size bug.
Anyway, I think you need to create a new text layer from scratch.
So make a new text layer from scratch with the color you want. To copy the layer style over from the old layer, right click on the old layer and select copy layer style. Then right click on the new text layer and select paste layer style. The delete the old text layer. make sure to rename the new layer and set it to point text.
Then retry it and I think it will work.