Agreed, you have to be sure no events are selected in the project (Select None - Shift+Command+A), then you can select the color for all the highlighted tracks from the color pull-down.
You cannot do it by selecting one track and using the modifier to change the color on the individual track. Is this a feature people would like to see added?
I had 2 more questions I couldn’t remember @ NAMM…
1…sometimes hitting * doesn’t activate play and record at the same time…is there a preference to check?
2…In N4 you could undo while recording, now if I delete and event by accident and press ctrl-z nothing happens.