the insignias are fairly easy as the insignias are all in the racelogo.tga file with the smaller 3 sizes being hidden in the alpha channel only, and the new reacelogo.tga will need to be placed in the mods textures folder. no idea on the colours
harpo
I used Photoshop to edit the race logos as Harpo mentioned ... it's very easy ... once you know how:)

RGB layer

Alpha layer
As for colours ... you can change the hue for the largest icon (light/dark grey tones) but for the smaller ones ... not sure ... am experimenting and will let you know if anything comes of it.
And thanks Harpo for your previous advice on the other thread!