This is major progress.
Looks like the rainbow fast starts at red and fades to yellow then to green (takes a few minutes to be noticeable change)
Rainbow slow appears to be the same speed as rainbow fast
The first Choose Colours starts at yellow, and after a minute turns to green then another minute to blue, etc.
The second Choose Colours appears to do the same. at the same speed
The all options function is pretty freaking neat, I'm still toying with it.
I'd like to use this as an alert (for example, it can flash blue if it's raining, or red if the alarm is armed, etc.)