This seems to be an interesting app. For first, it occupies a glorious domain, www.color.com
It will surely give alot of social voyeur and exhibitionist a field day with this app.
With 41 million dollars backing, it is surely an ambitious app. It is certainly a very interesting app, but I wonder will people really use it? Good thing the app is free in the first place!
This is a description of the app on iTune appstore.
WARNING: DON'T USE COLOR ALONE.
Use Color to take photos and videos with other people who have iPhones within 150 ft to create a group album.
For parties, play dates, lunch? You get their photos, they get yours. Share any album with Twitter and Facebook.
Color is a social network for your iPhone.
From Cnet and ibtimes