Setting the color of tracks and folders does not work consistently. For example, you can not set the color of a folder if an event is selected. You must unselected all events on the track.
Can this be fixed in a future release? Maybe unselect ALL events when a track is selected.
Also, when you right-mouse click an event you have the option Colorize Selected Events…
Can this option be added when you right-mouse click a track or folder Colorize Selected Track/Folder…