The oldtime locksmith I used to do business with would use the kind of magnifier a doctor uses to look into my ears to inspect the tumblers of a lock cylinder, and hand file a blank key with a set of jeweler's files. He rarely if ever had to file a second blank. Sadly, he's working on the lock on the Pearly Gates now!
Jerry
Thats what I did with mine. Looked up the depths for my code. Rat tail file.
6 spacings, 5 depths. 1 is a no cut.
Far as the color, thats for a new rekeying kit. Old waffers were not colored.