Is it possible to change styles of a div that resides inside an iframe on the page using CSS only?
The quick answer is: No, sorry.
It's not possible using just CSS. You basically need to have control over the iframe content in order to style it. There are methods using javascript or your web language of choice (which I've read a little about, but am not to familiar with myself) to insert some needed styles dynamically, but you would need direct control over the iframe content, which it sounds like you do not have.