Actually, the events such as Join, Part, Quit, Topic, Ban, Kick, etc. are not stripped of their color. I think it is just regular channel chat text or ads from scripts.
These particular XDCC ads seem to be the exception. That is what seemed strange to me. I thought at first that maybe there is some sort of code in the text or something stated in the text itself that is bypassing the mIRC color filter. That is just a wild guess though.
Thanks for the feedback.
Nomadic_Prophet