Armor Dye would destroy Prestige
Just a comment here. I would be extremely upset if blizzard put in an option to color gear. Since the homogenization of tier and other pvp/raid loot color has been the only differentiating prestige factor. Already gone are the days of people being able to look at models and know you worked at something for a good amount of time to get; All the prestige we current have left is color and transmogrification is killing that too.
Many people play WoW to get their 'I'm a special snow flake' fix. I don't think that is going to be really possible anymore with the direction the game is taking. Ie.
Transmogrification: Great now I can show off the gear I worked so hard for way back when. Blizzard screwed that by making it available from vendors and probably BMAH.
Achievement Mounts: Great now I can work to earn a unique mount that will be in indicator of achievement something at level. Blizzard screwed that by not taking out the mounts once the content was no longer relevant.
Tier Gear: Great now I have a unique matching set that everyone of my class will know I am a good player and worked at raiding. Blizzard screwed that by putting the models in LFR and re-using tier models for off gear.
Server First Titles: Great now I have something no one else will have to show that I was one of the first players to complete a difficult encounter. Blizzard screwed that by taking them out of the game and leaving the kill titles only; which are still obtainable after content is out leveled.
I could go on. My point is, Blizzard is removing incentives to actually play the game. They are handing players stuff on a silver platter. I really would like to see the game go back to a grind over this log-in do dailies collect the same loot as the guy that raids or pvps 4 times a week. Its perpetulaully killing the desire for players to get better at the game. People already bail on pugs after one wipe because it isn't a D3 style click button collect loots. Forget re-coloring gear; bring back the ability to achieve the 'I'm a special snow flake' in the game.
-- rant end