I haven't tried recently, as the last time(s) I tried it, it uploaded to the Oak and bricked it, so I had to recover them via serial update. However, it has been a month or so, so I'll try again.
The reference to magenta is in relation to Particle's own hardware - they have RGB leds on them for status... so they do cyan heartbeats, magenta error flashes, etc.
However, until there is an official announcement, I'd put it in the 'coming soon' basket still...