pink is rich or on the rich side of acceptable. tan is good. black is bad. is it a thick grease like stuff and does it look like metal flake paint when you look at it in the sun or is it just like burnt oil? it it looks like a fine metal flake paint, something (most likely at where it is coming from) is rubbing against something else. the little shiny parts are small metal particles that have come loose. when that stuff mixes with oil you get this stuff that has a texture like white lithium grease but is black with little shiny spots. it it is just burnt oil, you are running too lean and you have a leak somewhere. if it won't start back up, a basic rule of thumb to find out what is wrong (there are exeptions and this does not always work, but it works more often than not even on two strokes) assuming your engine has not self destructed and the timing is correct (you don't have to worry about that because it is a two stroke) than all engines need to run are three things. spark, fuel and compression. wihtout spark, the mixture will not ignite. without compression, all the fuel would do is sizzle if that. without fuel, what's the point in having it? so make sure you have spark, make sure you have nothing jamming up your fuel jets and make sure fuel gets to it, and make sure you have compression. a plug may look good but there is a decent chance it is not. usually the last half coil will not glow. much more than that and you will loose power, it won't rune right or it may not start if you are cold starting it. if all those things are present try spraying a touch of ether into the carb. it is already a vapor and will ignite on contact with the hot coil which will heat up the engine a bit for the next cycle to occur.