Anything put into the "color" bit gets directly transferred to font color=. This can be validated in RuntimeLibrary.
According to
http://www.tedmontgomery.com/tutorial/colors.html Orange should be FFA000, not FFA500. When I tested it in the gCLI, there was no # required. I suppose it depends how light you want your text to be.
Sidenote.
Not sure why the mafia HTML parser skips orange, but... that's apparently the core of this bug. If it's actually a bug... possible that at that point, Java's colour parser didn't have an orange in it. Regarding the rest of it and black and so on, non-html colours not existing isn't a mafia bug.
Edit: Does appear that it's not a mafia bug. Aqua is a valid colour through the colour picker. It's not found in mafia's source except as it ties into items... nowhere does that colour get defined. Making this a limitation of Java, not a mafia bug.