In relation to encoding colours in Unicode, it could be done.
I tried an experimental encoding back in 2002.
http://www.users.globalnet.co.uk/~ngo/courtcol.htm
http://www.unicode.org/mail-arch/unicode-ml/y2002-m07/0210.html
There was also some discussion at that time about the issue of chromatic fonts.
I have continued to be interested in chromatic fonts and indeed I am surprised
that chromatic fonts have not by now become a mainstream facility.
Some readers might perhaps like to know of the following, which is a thread
entitled "A possible chromatic font technology breakthrough".
http://forum.high-logic.com/viewtopic.php?f=36&t=1969
William Overington
22 June 2010