Let's first look at the code that you are using.
The javascript:
protocol is out of place (it's used when code is placed in an URL) so it just becomes an unused label.
The parent object is a reference to the page that contains the iframe that the current page is in. As you are probably not in an iframe but a regular page, it will just be a reference to the current page.
So, all that is left of the code is actually:
onmouseover="DivColorHover(this)"
To add the same event using jQuery you need some way to identify the element, for example by adding an id="something"
, then you can do this:
$(function(){
$('#something').mouseover(function(){
DivColorHover(this);
});
});