old-style badges FIX:

title: ...
path: ...
badges:
- entity: sensor.xiaomi_cg_1_co2
type: custom:hui-state-badge-element
card_mod:
style: |
:host {
color: orange;
--label-badge-text-color: red;
--label-badge-red: cyan;
--label-badge-background-color: yellow;
--ha-label-badge-label-color: green;
}
OR - open “card-mod.js” in editor and replace
hui-state-label-badge → hui-state-badge-element
Ofc it may stop working some day )))
Unfortunately, there is no way to restore a “change name/icon” functionality. (you may change a name like it is proposed for a state-badge in picture-elements)
Update:
You may style old-style badges even w/o hacking a js-file - just use mod-card (described here).
Next, in card-mod 4.x it is possible to style them with and w/o mod-card (described here).