If you want to set the text color for schedule events, you need to use css styling. You can check the text class of the events as shown in the attached image.
For the modification you need to override this CSS rule:
Hm… that’s unfortunate as the users will have the ability to choose their own event colours so depending on what colour they choose I will need the text colour to be either black or white. I can calculate it on a per event basis on the server side but if I have to set it via css then I don’t see how I’m going to do that.