That is really cool! Where did you get it ??!?!?!?!?!?!?
When it comes down to Halloween or Shoween, Shamim or whatever you call it .. I strongly say it's more preference.
Halloween in most cultures and religions is to remember the dead , dress up and get FREE candy !! So wether your burining it because your into the whole creepy halloween, watch horror movies and get dressed up, then its perfectly fine.. do what pleases you !
If your asking along the lines of celebrating for the pagan, wiccan holiday, it would be perfectly okay. Because, yes candle colors are a great way to associate what your doing, it in my opinion isn't as important the color or what it does, because you are remembering those that passed, and celebrating the good times of your loved ones....
And, in sure your deities will appreciate the funk ;)