Heard back on the quote.  If I understood him correctly it's the base cost of the sign plus a $20 fee to customize it.  He didn't indicate an extra cost for the third color.  I asked him for a full cost quote given the custom design on one of the words, different colors, and a third color added.  Sounds like it's going to be $155 + $20 + shipping.
If that is the case I am definitely in for my son for Xmas.