Great question because it's all over our store on just about every product.
So "light color" just refers to (and is often called) the light temperature which dictates the type of "white" on a scale. Most of our products are either "Warm White" or "Cool White" which have temperatures of 3000K & 6000K respectively. In some instances we offer "Natural Light" which is about 4000K.
This photo should help visualize what the temperature scale looks like:
In some cases we have a "RGB" option which stands for Red Green Blue and is essentially all available colors in one (as you'll notice in the product pictures).
If you need any more help figuring out colors and temperatures though, please feel free to reach out!