<?xml version="1.0" encoding="utf-8"?>
<resources>

<style name="MyTheme" parent="@style/Theme.Sherlock">
 <item name="actionBarStyle">@style/MyTheme.ActionBarStyle</item>
 <item name="android:actionBarStyle">@style/MyTheme.ActionBarStyle</item>
</style>

<style name="MyTheme.ActionBarStyle" parent="@style/Widget.Sherlock.ActionBar">
     <item name="android:titleTextStyle">@style/MyTheme.ActionBar.TitleTextStyle</item>
</style>

<style name="MyTheme.ActionBar.TitleTextStyle" parent="@style/TextAppearance.Sherlock.Widget.ActionBar.Title" >
     <item name="android:textColor">#FF0000</item>
</style>

</resources>

actionBar.setTitle(Html.fromHtml("<font color='#ff0000'>ActionBarTitle </font>"));

<style name="MyTheme.ActionBarStyle" parent="@style/Widget.Sherlock.ActionBar">
     <item name="android:titleTextStyle">@style/MyTheme.ActionBar.TitleTextStyle</item>
     <item name="titleTextStyle">@style/MyTheme.ActionBar.TitleTextStyle</item>
   </style>

<style name="MyTheme" parent="@android:style/Theme.Holo.Light">
        <item name="android:actionBarStyle">@style/MyActionBar</item>
    </style>

    <style name="MyActionBar" parent="@android:style/Widget.Holo.Light.ActionBar">
        <item name="android:titleTextStyle">@style/TitleBarTextColor</item>
        <item name="android:background">YOUR_COLOR_CODE</item>
    </style>

    <style name="TitleBarTextColor" parent="@style/TextAppearance.AppCompat.Widget.ActionBar.Title">
        <item name="android:textColor">YOUR_COLOR_CODE</item>
    </style>

Spannable text = new SpannableString(actionBar.getTitle());
text.setSpan(new ForegroundColorSpan(Color.BLUE), 0, text.length(), Spannable.SPAN_INCLUSIVE_INCLUSIVE);
actionBar.setTitle(text);

<item name="android:textColorPrimary">@color/orange_dark</item>

<style name="MyTheme" parent="@android:style/Theme.Holo.Light">
    <item name="android:actionBarStyle">@style/NewActionBar</item>
</style>

<style name="NewActionBar" parent="@android:style/Widget.Holo.Light.ActionBar">
<item name="android:titleTextStyle">@style/TitleBarTextColor</item>
<item name="android:background">#666666</item>
</style>
<style name="TitleBarTextColor" parent="@style/TextAppearance.Sherlock.Widget.ActionBar.Menu">
    <item name="android:textColor">#000000</item>
</style>

<application
    android:allowBackup="true"
    android:icon="@drawable/ic_launcher"
    android:label="@string/app_name"
    android:theme="@style/NewTheme" >
    <activity
        android:name="com.nearby.welcome.Splash"
        android:label="@string/app_name" >
        <intent-filter>
            <action android:name="android.intent.action.MAIN" />

            <category android:name="android.intent.category.LAUNCHER" />
        </intent-filter>
    </activity>

</application>

<android.support.v7.widget.Toolbar
        android:id="@+id/my_toolbar"
        android:layout_width="match_parent"
        android:layout_height="?attr/actionBarSize"
        android:background="?attr/colorPrimary"
        android:elevation="4dp"
        android:theme="@style/ThemeOverlay.AppCompat.ActionBar"
        app:popupTheme="@style/ThemeOverlay.AppCompat.Light"
        app:titleTextColor="@color/colorWhite" />