To add what Jethro_ said about $regsubex you can play around with this

alias color say $regsubex($1-,/(.)/g,$+($chr(3),$base($r(2,15),10,10,2),\t))

also to the others that this is saying it twice, you may have another on input event on while you are trying to run this snippet. as well he is missing a closing bracket.