Thanks Robin, I will try the plugin.
I am replying my own post in case anyone has the same problem.
I solved my problem using the following script https://gist.github.com/ntwb/7797990
and I added style attribute for the html elements I need. Now everything works fine.
// Span
'span' => array(
'class' => true,
'style' => true,
),
The main problem is with text colors. Subscribers can add colors but when they are submitting their reply, html showing up instead of the color.