Change jQuery(document).ready to $.delegate in wordpress

Looks like you’re missing the jQuery ready function. Try this:

jQuery(document).ready(function($){
    $.delegate('p','mouseover', function(e){ 
        $("#yyy a.tippy_link").css("background-color","yellow");
    }); 

    $.delegate('p','mouseout', function(e){
        $("#yyy a.tippy_link").css("background-color","red");
    }); 
});  

Cheers,