So YES it is possible to get your colored class names back on Black Ops 2, and it's the same method that it was in BO1, and MW3.
Here is what you will need:
A(n) Android/iOS Phone ~or~ an iPod Touch/iPad.
Internet Connection on said device.
Call of Duty ELITE Application for the device of your choice.
For anyone who wants to know, use the ELITE app on your iPod/iPhone/Android/PC and change your class names, including one of the following to change the color:
^1 - Red
^2 - Green
^3 - Yellow
^4 - Blue
^5 - Light Blue
^6 - Pink
^7 - White
^8 - Dark Brown
^9 - Random
^0 - Black
^; - Dark Blue
^: - Brown
i.e. : ^1Cakes would make it Cakes
It's as simple as that.
Little Q&A for this thread as well...
Q.) Is this for PS3?
A.) This is probably the MOST asked question I've seen. Yes, no need to worry. This works on ALL consoles.
Q.) Can I be banned for this?
A.) At the moment it's unknown if you can or cannot be banned for this, but I don't see why you would. With everything you do though, use caution when doing things like this, as there is always a risk when doing things that the developers don't intend for you to be messing around with.
Credits to Cryptic Soldier from NGU for discovering this!