Rollover button link problem

The button is supposed to change background colors and text color on hover/rollover but only the background color changes... Basically the <a> tag text does not change color.

Heres the HTML for the menu:

<ul id="menu">
                <li><a href="">Home</a></li>
                <li><a href="">About</a></li>
                <li><a href="">Blog</a></li>
</ul>

HTML:

and here is the CSS:

ul#menu li {
	display:inline;
	background-color:#6a6a6a;
	padding:5px;
	margin-right:5px;
}

ul#menu a {
	text-decoration:none;
	color:#000000;
	font-family:Arial, Helvetica, sans-serif;
	font-weight:bold;
	font-size:18px;
}

ul#menu li:hover{
	background-color:#242424;
	a:color:#C03;
}

Code (markup):

I was just wondering if someone could help me to figure out this problem.

Thanks,
Konqurz

 

This is wrong:

This works, probably:
ul#menu a:hover, {
a:color:#C03;
}

ul#menu li:hover{
background-color:#242424;
}

But the li:hover doesnt work in all versions off explorer.

 

How about this?

#menu {
	list-style: none;
}

#menu li {
	display: inline;
	margin-right:5px;
}

#menu li a {
	background-color:#6a6a6a;
	text-decoration:none;
	color:#000000;
	font-family:Arial, Helvetica, sans-serif;
	font-weight:bold;
	font-size:18px;
	padding:5px;
}

#menu li a:hover{
	background-color:#242424;
	color:#C03;
}

Code (markup):

 

Sweet thank you Cash Nebula works perfectly Now I see what I was doing wrong.