If you have a look at my DrawTextColoured procedure in my previous example and the one below you can see how I change the text colour and calculate the required positioning in the menu.
The example (below) uses AppendMenu function to add items in to the owner drawn menu. It then adds the new item in to the menu array. You can also see how to add an icon/image in to these menu items. I included an example on how you can process menu events from WM_COMMAND.
I suggest having a read through the Windows developers documents regarding menus, particularly the About section.
I have compiled the example for you this time in x32...
Appended Menu Items.exe