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I know this is about modules, but if you become inspired to update an old theme as well, you will find many themes (11 out of 20 that I tested) use CSS similar to the following to style the Xoops menus:
td#mainmenu a {display: block; color:#ff9900;}
This works up to Xoops 2.3, but for 2.4 you will need to kill the 'TD' prefix from the ID selector.
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