So... in the past Calculation tags have been used to create Color tags.
With VT12 this can be done using the Universal IO Tag: String Calculation but it seems that most objects object to picking String calculation tags { see what I did there }. When picking a color for a box and you select tag and go to choose a tag, it looks for numeric tags. Interestingly, you can select the tag in the left pane of the tag browser and it works. These tags just won't populate in the right pane because it is hard filtered for numeric values.
If you change the Color tag from String Calculation to Numeric Calculation, it'll show up in the details pane and you can select it but the color value passed to the object is invalid.
Hopefully this can be addressed soon. We depend on the description of the color tag to assist in choose the correct color. It doesn't show up now when color selecting from the object.