Are you trying to change the font and forecolor of the PropertyGrid control itself, or trying to change the values of two properties you've defined in the PropertyGrid? If you created a separate class and set it as the SelectedObject, then it should be as simple as editing the class. Getting the Most Out of the .NET Framework PropertyGrid Control
If you have a class that is populating the PropertyGrid, you could just use the constructor in the class or the DefaultValueAttribute tag to setup all your default values prior to attaching it to the PropertyGrid. Or create an instance of the class, change just those public properties you want for that instance, and then attach it.