I have seen an abundance of threads involving the genetics of mutations and genes and how they are passed, but I have not managed to find much information on how the colors of offspring are determined. I would assume that it is some sort of middle ground between the parents' colors, but I'm not sure of that. Also, will all offspring from the same parents have the same coloration, or is there a range? I'd like to figure these things out before I start breeding, to make sure I don't create any monstrosities.

the offspring can take on the parent's colors or have a mix of the two parents. Before you breed two pets, you can test them in the generator.

Go to the breeding generator, pick the two pets you would like to breed and click test breed. you can do that as many times as you want and it will give you a randomized preview of what you might get if you breed the pets together.

Ah, that is helpful. For some reason I totally missed the breeding previewer. Such a handy feature. Thanks much!