Color for Facebook lets you update your status with a live video stream straight from your device's camera. It lets you broadcast streams using your standard data connection or Wi-Fi, and can even post photo updates (thought its strength is undoubtedly its video capability).
To broadcast a stream, tap the green camera button, then tap Host Friends. By default, a link to your stream will be pushed out to all of your friends' news feeds, but the app does give you a couple of seconds to tap and change that setting before the video starts rolling. You can make the broadcast public or send it to only a few select friends--your choice. Once you're rolling, your friends will see a link to the stream come through their Facebook feeds just as any other status update would.
And now for the downside. Color's live streams are video only (so they're silent) and are limited to a measly 30 seconds. This means that friends who happen to see your Color link come through their feeds only have a few seconds to click and catch the action as its happening. After that, they can still click the link to see a recording, but as you can imagine, it's not quite as interesting.
On the surface, Color seems to be a really creative idea that has a chance to change the way we approach status updates. However, in implementation, the app still has a ways to go. The video quality is choppy, and transmitting anything involving fast motion is almost worthless. And then, of course, there's the lack of audio and that minuscule time limit.
If you're fascinated by the idea of sharing live streams with your friends (no matter how short), then Color is an absolute must-see. However, with all its limitations, don't expect it to be any more than a casual novelty at this point. That said, I still can't wait to see how the app's developers improve upon it next time around.