To change the color of your links, click on the name of your story in the bottom left of the screen and select "Edit story stylesheet". Here you can type some CSS code that will affect how your story is displayed.
To change the link text to red, you can add:
tw-link, .enchantment-link {
color: #FF0000;
}
(The color code is in hexadecimal.)
This won't change links that have already been visited; for that, add:
tw-link.visited {
color: #FF0000;
}
You may also need these, to change the mouseover color:
tw-link:hover, .enchantment-link:hover {
color: #FF5050;
}
tw-link.visited:hover {
color: #FF5050;
}
To make the links not-bold, add this:
font-weight: normal
What do you mean about the frames, exactly?