I stayed at 'The Color' for three nights and I must say that it was not one of my best experiences.
The room itself isn't bad, a bit small but it was obvious from the photos so no surprises there, shame about the lack of a wardrobe or something to hang shirts in and the sockets were few and far between from the bed, a bit uncomfortable. Another flaw, only one towel is not enough, I had asked for an additional one but I never saw it. Otherwise clean bathroom, people with whom it is shared permitting, everything is well organised.
But all this with a little spirit of adaptation is absolutely no problem.
The problem is the area, really terrible dirty full of rubbish and shouting people, noisy all night and from the mountains of rubbish came gusts of wind which were not very pleasant, really terrible.
If I had to go back to Lisbon I would probably spend more for another location.