I've honestly never heard it used that way. I have no idea what that means. Is it a British thing? I've only ever heard it used one way.
I think "riot of color," however, is just one instance of a particular, positive use of the word "riot." More broadly, "riot" can mean something like "a really fun thing" (as in "Let's hang out with that guy, he's a riot!"). But I'm not surprised that Element/Riot found that this was not the primary association that folks were making.