Here is an example answer to my own question on GitHub, http://stackoverflow.com/questions/15081892/javafx-text-multi-word-colorization. This can be extended to do pretty much anything, but it was recommended to use CellFactory to do the same thing. Example of that is here, https://gist.github.com/jewelsea/5036908

ConsoleInputParse.java

public class ConsoleInputParse {

    private String[] wordList = {};

    public ConsoleInputParse() {}

    public FlowPane parseInputToArray(String input) {
        wordList = input.trim().split("[ ]+");

        return colorize();
    }

    public FlowPane colorize() {

        ArrayList<Text> textChunks = new ArrayList<>();
        FlowPane bundle = new FlowPane();

        for (String word : wordList) {
            String spaced = word + " ";
            switch (word) {
                case "Hello": case "hello":
                    textChunks.add(customize(spaced, "purple"));
                    break;
                case "World": case "world":
                    textChunks.add(customize(spaced, "blue"));
                    break;
                case "Stack Overflow":
                    textChunks.add(customize(spaced, "orange", "Arial Bold", 15));
                default:
                    textChunks.add(customize(spaced, "black", "Arial",  13));
                    break;
            }
        }

        bundle.getChildren().addAll(textChunks);
        return bundle;
    }

    public Text customize(String word, String color) {
        return TextBuilder.create().text(word).fill(Paint.valueOf(color)).build();
    }

    public Text customize(String word, String color, String font) {
        return TextBuilder.create()
                .text(word)
                .fill(Paint.valueOf(color))
                .font(Font.font(font, 12)).build();
    }

    public Text customize(String word, String color, String font, int fontSize) {
        return TextBuilder.create()
                .text(word)
                .fill(Paint.valueOf(color))
                .font(Font.font(font, fontSize)).build();
    }

}

ExampleUse.java

ListView<FlowPane> consoleWindow = new ListView<>();
ArrayList<FlowPane> consoleBuffer = FXCollections.observableArrayList();

consoleWindow.setItems(consoleBuffer);

ConsoleInputParse parseInput = new ConsoleInputParse();  

someTextField.setOnKeyPressed(new EventHandler<KeyEvent>() {
        @Override
        public void handle(KeyEvent keyEvent) {
           if (keyEvent.getCode() == KeyCode.ENTER) {
                consoleBuffer.add(parseInput.parseInputToArray(inputBox.getText()));
           }
            consoleWindow.scrollTo(consoleBuffer.size());
        }
});