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Note: You may see [ and ] in place of < and > in the tags. This is simply because it was easier for me to substitute these in, as the browser confused them for actual code. Basically, if you see [ and ] you should regard them as the standard < and >.
text= - used exactly like that of the bgcolor= field, only this one alters the actual text that you'll type. It's generally a good idea to use dark colors on light bgcolors, and vice versa.
link= - again, used just like the previous attributes. This one alters the color of the links.
alink= - Alters the Active Link color. The active link is the one the user clicks on. Or, to rephrase, this color will appear when the user clicks any link.
vlink= - Guess what? This is just like the previous ones. Only this time it alters the visited links, naturally. A visited link is any link a user has previously clicked on. Helpful for naviagation.
background= - At the risk of becoming too redundant, this one is different from the previous tags. In this field you MUST enter the URL of a picture located either on your server or someone elses. EG: If you upload dog.jpg, a picture of your dog, and enter in: background="dog.jpg", then the entire background will be that picture!