<a href="blah" style="blahblah; etc..."><font color="green">WDZ</font></a>
or
<a href="blah" class="admin"><font color="green">WDZ</font></a>
or something like that... In that way you can alter the colors with CSS...
a:active is indeed for when you actually click the link. But the a:hover should be defined before it, not after it, to work properly; you can say that a:active is a special case of a:hover (hover above it AND click it), so the order should be: a:link, a:visited, a:hover, a:active.... (<== this has nothing todo with the problem here, but can cause other problems)
EDIT:
the easiest and cleanest solution for the "colored underline"-problem is (this is even without altering the CSS):
instead of:
<a href="blahblah"><font color="green"><b><i>WDZ</i></b></font></a>
do:
<a href="blahblah" style="color: green"><b><i>WDZ</i></b></a>
/ 
