The Colors can be entire words like the word color, as if I'm looking at the whole, but if I consciously break down the word in my mind it separates into the color-letter distinctions, i.e. color. (This forum's pallet annoys me due to the fact most of the colors are "close" to the actual colors in my mind, so it's like the uncanny valley of colors)
Most of the people I know in real life's names come from the letters from their name, but their personalities can actual mellow or brighten tones. Interestingly, I know a couple people whose letter colors do not match their color association. For instance, I know a person whose name starts with a D and thus should be brown, but due to the extroversion and brightness of the person their color is orange. The best part is that the color associations are based out of my unconscious and thus can actually possess meaning that I do not know, but I've figured out a few such as purple auras (note, this is only if the person is based off their aura rather than their letters, which makes things interesting when I've deciphered aura colors and they match up with a person's letter, so I have no honest clue whether or not it is the letters or the personality) being people I am generally attracted to and Pink people being people I generally hate.