Australian spelling vs water-colour

Australian spelling and water-colour both are nouns.

Word	Noun	Adjective	Verb	Adverb
Australian spelling	Yes	No	No	No
water-colour	Yes	No	No	No

Australian spelling (noun)	water-colour (noun)
English orthography used in Australia (characterized by 'analyse', 'centre', 'usable')	the art or technique of painting with watercolors
	a painting produced with watercolors
	a water-base paint (with water-soluble pigments); used by artists
	water-soluble pigment