I think most of the coloured sands are a bad idea. The white/tan, pink and black sands are mostly natural and collected from the ocean so they're ok.
But coloured sands are usually just dyed white sand. We don't want yukky dyes in our marine tanks. It may be ok in a freshwater as they are (typically) less finicky about water conditions plus the abrasiveness of freshwater is MUCH lower than that of saltwater so the colour is far less likely to leach.
When I was working at the LFS we'd get an occasional bag of coloured sand. We'd get big bags and divide them up into smaller ones. At the end of it your hands would be stained the same colour as the gravel. Even after giving the gravel a good wash the colours would still come off.
This was a few years ago though, perhaps there is a better process to colour them now?