When I try to export as .gif file from the .png the resulting
text gets rendered as a grey-scale version of the original color.
I've tried everything, but it still converts to the greyscale .gif.
Any help would be appreciated. Thanks.
In CS3, if you go to File > Image Preview (I think it's
Export Preview in earlier versions), there's a drop-down box for
the palette. Select Exact, Adaptive, or Websnap Adaptive, depending
on the color content of your image.