Sorry guys if I haven't been posting much here on the topic. I have my exams and am spending some more time in studying. I'll get working on a portfolio after classes.[/Friday, 6AM here] Internet's kinda sucky recently so I'll download everyone's samples on a Net cafe later.
As for honorifics, I support that we put in on the translated text whatever name a character says (i.e. When referred to as Yayoi-chan, we put in Yayoi-chan and if referred as Yukipyon, we put in Yukipyon).
As for color of the text, yes, we only need one color for anything outside songs or dialogs where two or more people are talking at once. In songs, we use the character's image color to signify that person with corresponding image color is the one singing. For specifics, I guess Makoto can use black, but maybe Yukiho would use gray or silver. Seeing as both Ritsuko and Miki have greens for image color, we could use darker shades of them for the text (kinda like what Katsuyuki said).
Though that just gave me another thing to talk about: What color do we use in the instance that more than one idol is singing at the same time, singing the same lyrics?