Colour is the eye perception of a tiny (400-700 nm) range of wavelenghts (the visible range) of the immensely wide electromagnetic radiation spectrum. White light is in fact a mix of wavelengths. Below and above this range human eyes cannot see and the radiation is invisible. When some of the wavelengths in white light are absorbed we see what is left over as coloured light.
When blue is absorbed we see yellow, when violet is absorbed one sees yellow-green, absorbed cyan lets us see orange. When all of the white light components are absorbed we see black. The opposite is also true.
Molecules containing configurations represented by C, O, S, N, and having alternating double and single bonds, such as benzenic (aromatic) groups -present in transformer oils- have delocalized electrons capable of absorbing light wavelengths, showing colour.
Usual (chromophoric) configurations are : -C=C-, -C=N-, -C=O-, -N=N-, -NO2 and quinoid rings.
Upon oxidation the resulting R-COOH acidic groups enhance these effects. For this reason they are called auxochromes (colour intensifiers). Among the usual auxochromes we find:-NH2, -COOH, -HSO3, and -OH.
Fuller's earths, specially the type containing active attapulgite, a Mg,Al hydrated silicate, have a lot of internal surface, and adsorb these colour bodies -together with some oil- the removal of which results in a clearer nice-looking reclaimed transformer oil.
I suggest you visit the inernet for subjects such as: "colour", "active clays",
"adsorption", "re-refining of lube oils", "transformer oils" and items related to.
I hope you find the above note satisfactory .