olive-coloured vs colored

olive-coloured is not a noun while colored is a noun.

Word	Noun	Adjective	Verb	Adverb
olive-coloured	No	Yes	No	No
colored	Yes	Yes	No	No

olive-coloured (noun)	colored (noun)
	a United States term for Blacks that is now considered offensive

olive-coloured (adjective)	colored (adjective)
having the color of green olives	having color or a certain color; sometimes used in combination
	(used of color) artificially produced; not natural
	having skin rich in melanin pigments;
	favoring one person or side over another