I archived the folder and the text went blue as expected...
Blue text in Explorer = NTFS compression is enabled via the properties (this has been standard in Windows for many versions now).
Two blue arrows is Windows 10's new way of showing the same thing, at the icon-level.
Reference/More info:
edit:
When Je viens de recently installed Office 2007, J'ai remarqué the same arrows on the icons for the programs.
That's kind of weird, and is may be just a matter of icon cache corruption.
For that, here's a couple things to try:
Ensure the EXEs are not actually compressed.
Try creating new shortcuts to the EXEs and see if they appear as expected.
Try clearing Windows' icon cache and see if that corrects the icons. For that, see this existing SU question: Refresh Icon Cache Without Rebooting