See http://bugzilla.lyx.org/show_bug.cgi?id=2723. The second problem reported there is a completely different one, this patch fixes only the color problem. This is going in trunk soon unless somebody objects.
Georg Log: Fix bug 2723 * src/lyx_sty.C (lyxgreyedout_def): Use \textcolor instead of \color
Index: src/lyx_sty.C =================================================================== --- src/lyx_sty.C (Revision 14634) +++ src/lyx_sty.C (Arbeitskopie) @@ -125,7 +125,7 @@ string const tabularnewline_def = string const lyxgreyedout_def = "%% The greyedout annotation environment\n" - "\\newenvironment{lyxgreyedout}{\\color[gray]{0.8}}{}\n"; + "\\newenvironment{lyxgreyedout}{\\textcolor[gray]{0.8}\\bgroup}{\\egroup}\n"; // We want to omit the file extension for includegraphics, but this does not // work when the filename contains other dots.