Color was a great idea, far beyond any social network. The concept of an elastic network which cannot be influenced, where you cannot friend or unfriend people and where a system decides who is your friend was just awesome. Adding friends or contacts manually is so 2005.
I honestly can't tell if this is sarcasm or not. The bit "[a network] where a system decides who is your friend was just awesome" could easily go either way.
Did you actually find out interesting things from its statements as to who your friends were, or do you not like the idea (it doesn't sound particularly appealing to me)?
I agree, it was an idea ahead of it's time that if caught on, would have completely changed the concept of social networks. It was a big bet and high risk so I'm not surprised it hasn't caught on. The concepts and thinking behind the idea, in my opinion, was rock solid and more true to how real networks work. I might have even have tried to redefine it as the "experience network" where you can look at shared experiences from many different viewpoints.