Select layer with color area to be changed, Select –> All, select this color area with the Fuzzy Select Tool, Select –> Invert.
Select layer with text and click text within color area, this should result in selection around text within color area. Make layer with color area invisible.
Click Select –> Selection Editor, set Opacity to 100, Threshold to 80, Fill by to Alpha, and enable Antialiasing.
Select Bucket Fill Tool, choose foreground color, and click on each letter within the color area.