Drag the words dimension to Color shelf. See if it works for you.
You can edit the color for each of the words.
Hi. Thank you for the reply. I have tried that but not what I was looking for. That would change color of all words (I have like 500)
I only want to change 50 of those, contained in a separate list - as highlight
1.right click WORDS and create a set including all the 50 words.
2.drag the set to the Color shelf
3.right click the set in color and select Members.
See if this works for you.
If you want this to be a set list of words then do as Alexander has suggested. However if you want to colour words based on a condition/formula or choose the 50 least/most often used words to colour then while creating a set go to the top or condition tab. Here you can base your SET not off a predetermined list but rather a dynamic list that would be updated as your dataset that you've connected to changed.