yes, you can use spectrum for on the fly profile selection, either using the spectrum menu or using profile browsing (look at the 12 different spectrum modes to select the combo you prefer to access those)
finally, using font binding, you can force a font to use / start with a particular color or blade profile using the start_blade and start_color parameters in the font_config.txt file.
In the recent default packages, in the /extra/Manual folder, I added a Spectrum Cheat Sheet for quick remembering the different modes.