They invented a word because... um... adding jargon to the lexicon results in... less... jargon? I mean, when I saw the word "colorways" I interpreted it as a synonym for "waveguides." Story checks out, I guess?
Colorways is a pretty common word in other areas though, so it's not entirely made up. Colorways is used extensively in the shoe world to describe when new colors/patterns on an older shoe line drop.
It's way more jargony than "theme", which has been used for color themes since at least win 3.1 and is fairly well-known in that sense among the general population.
Meanwhile, I'd never heard of "color ways" until like 3 years ago, and I'd still not have if I didn't pay (too much) attention to tech and industry news.
[EDIT] Oh my god, it's even worse, I read other posts on this thread and just realized that I got it from getting very slightly into shoes, not even from tech news. LOL. Yeah, this is a terrible name.
Funny thing is, I know enough shoe nerds to parse the phrase "on an older shoe line drop," but this is still the first time I've seen the word.
And I know people in more general clothing fashion, and also interior design. Is this a fashion term or is somebody on the naming committee really into shoes?
Oh, apparently, my eyes filter out the word 'fashion'. Shoe nerds. Great market segment to target. They probably know how to install apps. That'll save the ship.