Is it possible. I would be using the white.

Anything I should know before I start?

I'm thinking of doing electric pink, green and orange.

I color the satin ice all of the time-never had any issues doing so.

just make sure that you get the electric gel colors, because its harder to make those bright colors from regular shades without softening it too much.

i color satin ice often and love it compared to coloring homemade fondant. that stuff softens way to much and is impossible to work with. (satin ice rocks!)

Get food-safe gloves.