Would be very useful to use together with control profile switch (and many other use cases). Lets say, my XY-Pad on control 'profile-1' works as Distortion dry\wet, and it is purple, but in control 'profile-2' it act as reverb dry\wet ant it is blue.
UPD: Also, make it possible to change color of the text-widget, this will step up visual feedback for a user.