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From Unreal Wiki, The Unreal Engine Documentation Site
A ColorModifier applies a color change to the material specified in the Material property, and displays the result.
- color Color
- Color to affect the material.
- bool RenderTwoSided
- causes the resulting ColorModifier material to be two-sided if true.
- bool AlphaBlend
- if true, the A value of the color affects transparency of the result. For only transparency and no change in the material's color, set R, G and B to 128. Note: transparency does not work on all types of materials, eg Shaders are not affected by it.