The pin colors have no meaning from where you are at considering your current level. Let me try to convey the idea without using complex terminology.
The idea behind colored pins was to make it easier to sort pins that may be close in size, so very close sizes may have different colors. If you drop one into the wrong spot in your pinning tray, it is easy to pick it out and put it where it belongs. But not every manufacturer uses all the same colors. The colors can vary even from the same manufacturer in different kits. LAB kits may have different colors for the exact same size of pin depending on whether the pin is incremented in .005" or .003". I will use LAB universal pin kits for my examples because my universal pin kits are LAB brand.
Most universal pin kits have a chart on the inside of the lid, so when you open the lid, you can look for the kind of lock you are pinning, and see what pin sizes are used. Most of them even have that chart in color. So you can see what color pin you are looking for as well.
When looking at that chart, you may notice that all or most of the pins for a certain type of lock are the same color. Schlage sizes would be green in both the LAB .005" kit and their .003" kit. But that does NOT mean that any green pin is automatically a Schlage pin. In the LAB .005" kit, Kwikset pins are purple. There are only so many colors that they can realistically make and have them easily identified as to what color it is. And there are many more sizes of pins than are used in a single lock manufacturer, so colors are shared. They are not going to have a universal kit with five colors of .240" length pins.
If you have a "factory" pin kit, the pins are usually not colored, at least in my limited experience.
I will stop here before I end up making a 14 volume encyclopedia about pin colors and sizes. I couldn't actually do that, but it would be easy to get into the weeds when talking about exceptions.
Other people will probably chime in with their views. I am not a professional locksmith, and from time to time I have been wrong. Or mistaken. Or just an alternate truth.
Gordon
Just when you finally think you have learned it all, that is when you learn that you don't know anything yet.
