If your book is black and white, no. If it's in color it will cost you a fortune but yes, you can do it.
Regarding epub, limited font options. If you absolutely want headings in color insert images of the chapter title. In this case, however, they will not appear in the toc. Best to keep it simple.
Hmm...it will work in epub. I am guessing that the ebook buyer can select color font on their device. Kindle strips everything from my experience.
You can test and let us know. Just preview in Adobe Digital Ediitons.