I think part of the problem is that when D7 was out a lower version of the ComCtrl32 was being used and as far as I know, MS still installs these for older apps. There is a subtitle difference between how the current 6.xx behaves.
If you were to compile your app in D7 and move it to a new machine in EXE, it most likely will give you what you expected however, if you recompile with newer tools, changes are a newer ComCtl32 could be used and thus things like Themes etc..
There is a hack that can be done and that is you get the combo info via GetComboBoxInfo which returns a structure that contains all the needed items like RECT plots for components, the EDIT box handle and ListBox handle.
You can hook the Window Procedure of the ListBox and thus track the WM_Paint message where you can at that point set the colors to your liking.
But really, after all of this, it's simpler to use the owner draw, the only drawback is it's not supported with the csSimple style which I like to use so I can see a combination of edit control and listbox at all times.
Jamie