I am not sure the colors are tied to a specific type of action. In my experience, this is the way it seems to be:
Gold - High chance of success. Good gains for success, lessened losses for failures.
White - Normal chances all the way around.
Red - High chance of fail. Big losses. Smaller gains. Best to wait.
Multicolor - High risk, high reward. Success/fail rate seems average, but the gains and losses seem to be big.
I have also noticed that success chains and failure chains seem to change the odds. For example if you get 2 or 3 failures in a row, you seem to have a much higher chance of failing from that point on, even if you have a gold orb. On the other hand, landing 2 to 3 successes in a row seems to boost the characters confidence and they seem to get a solid success rate even multicolor and red orbs.
Gold - High chance of success. Good gains for success, lessened losses for failures.
White - Normal chances all the way around.
Red - High chance of fail. Big losses. Smaller gains. Best to wait.
Multicolor - High risk, high reward. Success/fail rate seems average, but the gains and losses seem to be big.
I have also noticed that success chains and failure chains seem to change the odds. For example if you get 2 or 3 failures in a row, you seem to have a much higher chance of failing from that point on, even if you have a gold orb. On the other hand, landing 2 to 3 successes in a row seems to boost the characters confidence and they seem to get a solid success rate even multicolor and red orbs.