I'm colorblind and have used this. I find it frustrating, because the names are often completely useless. The app's author points this out in the linked thread:

"The whimsical color names made me think that the app would be less useful for the colorblind, as most people don't understand colors like "Cosmic" and "Hippie Green." So I thought the app would be mostly used as a toy; a fun way to see what the "color" of your friend's face is ("Tacao"!)."