I can't see the new light blue font on many of the displays. Is there a way to change this color?

No you can change your wallpaper to make the font stand out more on your homepages and folders or you can adjustr the font size, bold and contrast here:
Settings > General > Accessibility

NOTE: Turning Bold text on will force your phone to reboot.

Also in accessibility you might want to try the increase contrast option, as well as the Larger type option (apps that support it, which is at least most Apple apps and built in iOS apps, will dynamically resize their text based on your choice).