Hello,
To add color box you can add the following CSS to Theme Settings >> Custom CSS >> Global custom CSS area.
.read-more-section {
background-color:red;
}
Screenshot for Clarification: https://www.screencast.com/t/udpxJMFS7g
To change the CONTINUE READING to Read More you have to use Loco translate plugin. You need to go to Dashboard >> Loco Translate >> Theme >> WoodMart >> Search for your string and translate it and save the changes
Screenshot for clarification: https://ibb.co/G7mH05d
Result: https://ibb.co/gFCymYv
Video tutorial https://www.youtube.com/watch?v=D3NsDdMzsls
Best Regards.