This is one of the stranger things I've seen. Each time I restart ghostview I get a different color font! There is no pattern to it, and no, it's not colormap flashing. I'm running 24-bit depth. Try running ghostview a few times and you'll see. I don't know if this happens on x86 but it's worth looking into there as well.
Please disregard this...I noticed when I checked ghostview on a different Alpha box it wasn't displaying the different colored fonts. I reasoned it might be a problem with the Matrox Mystique so I went back to that machine to test. ghostview no longer exhibited this problem. Cosmic rays? Hmmm...I can't reproduce it anymore so I'm marking this bug as NOTABUG.