Looks fine to me, though you don't need to wait for an event to change the font properties. They already exist by the time the addon runs.
As for your additional requests, here's how I'd reset the nametag anchors.
Lua Code:
hooksecurefunc(NamePlateDriverFrame,"OnNamePlateCreated",function(base)-- Hook nameplate creation function
local unitframe=base.UnitFrame;-- UnitFrame attached to nameplate base
unitframe.name:ClearAllPoints();-- Clear nametag anchors
-- Set new anchor(s) here
end);
I think the nametag is always white. The nameplates just change their alpha when "selected".