Can any1 tell me how to change the font color and make it bold or italics in Pivot Table.
You are referring to data font formatting and not the header formatting, right?
If so, in the expression tab, expand in each expression to get "text format" and then '<b>' for bold and '<i>' for italics.
There is also a custom cell formatting option when you right click on a pivot table when you check the always show design menu option in the user preferences
It looks like this
Retrieving data ...