Yes White (or what ever colour you set in the personality menu for the Selected colour) is indicating that is the selected source on that bus.
Red -- ON AIR (you will also notice that OFF air "Active" Keyers/BKGD buses of MEs or MiniMEs will be white then turn Red when that ME goes to AIR)
Green is telling you that the Panel Menu with the Knobs is now assigned to that buttons additional controls. Even with a DIS button the menu when it follows to the DIS menu will show green.
You also then get the Green Menu colour highlights as well.
Green = Panel Menu + Knobs association.
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Les O'Reilly
Director - Switcher Product Management
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