I don't see a solution to this so I will have to put all my data in to a list, sort it, then put it in a label and put a CrLf between each entry... Messy but the the only way I can see having coloured text.
Listview is a primitive. Use xCLV instead (as Erel stated). I build 90% of my apps using this because it is so versatile. Especially for B4A.
Erel devoted much time making this functional - so you don't have to.
When I grasped xCLV, I found I could use it for menus, input forms, scroll lists, lookup form lists, or anything I needed!
Simply use the designer to create a panel with components (however large or small) and add it to xCLV. Add more panels to the same xCLV to complete your form (if needed).
Try and adopt B4X / XUI going forward. This is the new standard and is so much easier to work with - especially across platforms.