I see how it is cool, but basically it is IOUs from a party you don't really know. This is a hard sell. I am not saying it won't work, but there is a lot of competition now and all are clamoring for the same clients, who are actually few in number.
Who is trying to sell anything? There is nothing to sell! Coloring coins is a process and Coinprism is a tool. If you are a bitcoin user you can already use colored coins should they be useful to you. All it really is is a trustless accounting system for "user-defined tokens."
Patrick Byrne (Overstock CEO) mentioned in Amsterdam that he would like to have Overstock assets trade in bitcoin space in addition to on the NASDAQ. Would you trust colored-coin assets issued by Overstock? I probably would. Would you trust colored-coin assets issued by a Newbie with an activity level of 2? I probably wouldn't. Would you trust colored-coin assets issued by a promising bitcoin start-up looking to raise money? Well, if I knew and trusted the management and if I believed in the business model, then I might. This could in fact be a new funding mechanism for bitcoin projects.
Coinprism: if my business has 3 executives, can we create a class of colored coins that requires signatures from 2 of the 3 private keys in order to issue shares?