It's easy... since you used the [Token] method in your post, I'll show you how using the Token/xml method.

In the html skin file, use [LOGIN] just as you normally would.  In the skin.xml file, tell DNN to use your own class (instead of the .skinObject class) for the Login token:

<Objects>
   <Object>
      <Token>[LOGIN]</Token>
      <Settings>
         <Setting>
            <Name>CssClass</Name>
            <Value>control</Value>
         </Setting>
         <Setting>
            <Name>Text</Name>
            <Value>Login</Value>
         </Setting>
         <Setting>
            <Name>LogoffText</Name>
            <Value>ByeBye!</Value>
         </Setting>
      </Settings>
   </Object>
</Objects>

Then in the skin.css file, implement your new style for the login:

.control, a.control:link, a.control:visited {
 text-decoration: none;
 font-family: Tahoma, Geneva, Arial, Helvetica, sans-serif;
 font-size: 10px;
 color: black;
 font-weight: bold;
}
a.control:hover    {
    text-decoration: underline;
    color: red;
}
a.control:active   {
    text-decoration: none;
    color: black;
}

And viola! your login link is black text, turning red on mouse-over.

Thank you! it is difficult to find, and this solutions is great.