A family of Microsoft word processing software products for creating web, email, and print documents.
Yes.... Go to File > Options > General and make some change to the User Name shown there -- for example, add a number to the end of it. Leave the Track Changes options set to "By Author". Track Changes will now see any new changes as being made by a different author, so it will use a different color.
You can change your user name multiple times to get a different color each time. After a certain number, though, Word will have cycled through all the colors in the list and will start repeating.