Quoted from epthegeek:Yes, but saying 193 colors straight up gives the wrong impression, IMHO. The artist doing the color work only has control over 16 points of color - the rest are determined by the brightness level. I know it's picky semantics, I just think saying 193 colors period would lead to a false expectation of capabilities.
It obvious by looking at the demonstration .gif above. If they looked exactly the same you'd have a point, there is much more 'color' in ColorDMD. Shades of a color has specified names in paints etc, this is no different.