I want to know if there is a way to change the iOS 7 status bar text color besides black and white color?
Theoretically this is possible. You will need to read about private api's on iOS. Here is o good place to start with UIStatusBar example:
http://b2cloud.com.au/tutorial/using-private-ios-apis/
Keep in mind that probably you won't be able to submit your app on Appstore if you would use private api.