As I (mis)understand it, you may:
1) Create the text and Type>Create Outlines, change the colour before or after as desired (to the inner colour);
2) Object>Path>Offset Path by the desired amount and change the colour as desired (to the outer colour);
4) Select each of the inner paths along with the corresponding offset path and Pathfinder>Minus Front.
That should give you separate (compound) paths for inner and outer paths for each letter.
Another around about way may be to creative the outlines, add a stroke to the outline then outline the stroke. To take it one step further release the compound path made from the stroke and then with the pathfinder use the unite command. It should make the section one large solid section instead of just the compound path around the text.
Create text > apply stroke and select none fill color > outline > expand.