I really don't like this name. Seriously, who wants to be called "Color", regardless of the spelling? Also, I think this name would be much better spelled "Colour", with a 'C' instead of a 'K'. I can't believe people actually name their children this.
I like this name a lot, and it is very different from naming your kid bookshelf or something, becuase color has a beautiful meaning. As for the spelling, I think it is unique.
I have to say that I completely despise this name pronounced like Colour, however I would consider it were pronounced, Kul-ore. The ore being like door. I would say that it could be the new Nevaeh, but much less common and somewhat better.
As if "Colour" weren't atrocious enough. At least spell it correctly! You might as well name your child "Dust" because "Colour/Kolour" seems like the parents did not even try to learn a real name.